Update on LTC Share Purchase Agreement

RNS Number : 5867E

Accrol Group Holdings PLC

14 March 2022

 

14 March 2022

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Accrol Group Holdings plc

("Accrol", the "Company" or the "Group")

Update on Leicester Tissue Company Share Purchase Agreement

Accrol (AIM:ACRL), the UK's leading independent tissue convertor, is pleased to announce that, following final settlement with the vendor of Leicester Tissue Company ("LTC"), no sums are due to be paid nor equity issued under the deferred consideration arrangements relating to the acquisition of LTC. 

Further details of the acquisition of LTC are contained in the announcement issued by the Company on 2 November 2020 titled "Acquisition and Launch of ABB".

Dan Wright, Chairman of Accrol, said: "LTC has proven an extremely valuable addition to the Accrol manufacturing footprint. Its operations are now fully integrated within the wider Accrol business, allowing us to accommodate considerable growth and realise significant efficiencies and synergies across the Group."

For further information, please contact:
Accrol Group Holdings plc
Dan Wright, Executive Chairman	Via Belvedere Communications
Gareth Jenkins, Chief Executive Officer Richard Newman, Chief Financial Officer
Zeus Capital Limited (Nominated Adviser & Broker)
Dan Bate / Jordan Warburton	Tel: [phone]
Dominic King	Tel: [phone]
Liberum Capital Limited (Joint Broker)	Tel: [phone]
Clayton Bush / Edward Thomas
Belvedere Communications Limited
Cat Valentine	Tel: [phone]
Keeley Clarke	Tel: [phone]
	[e-mail]

Overview of Accrol

Accrol Group Holdings plc is a leading tissue converter and supplier of toilet tissues, kitchen rolls, facial tissues, and wet wipes to many of the UK's leading discounters and grocery retailers across the UK. Following the acquisitions of LTC in Leicester and JD in Flint, North Wales, the Group now operates from six manufacturing sites, including four in Lancashire, which generate revenues totalling c.16% of the £2.1bn UK retail tissue market.

For more information, please visit www.accrol.co.uk .

 

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