In the paper product packaging sector, the Italian company Lucart has acquired control of the English company ESP, a transformer of professional paper products.
Lucart has acquired 100% of the share capital of ESP Ltd (Essential Supply Products Ltd.). It is Britain's leading independent processor of professional hygiene products. The Group is thus continuing its internationalization plan, despite the uncertainties arising from Brexit and the pandemic.
The investment will contribute to decisively strengthen Lucart's leadership in the European market for Away from Home hygiene products.
Massimo Pasquini, CEO of Lucart, commented on the important milestone as follows: "This operation is of strategic importance for the entire Group, as it allows us to consolidate our presence in Great Britain, which represents the second largest market in Europe for tissue paper products.
Our financial strength and the will to pursue the Group's strategic objectives, together with the awareness that the difficulties linked to the historical moment we are experiencing should not make us lose our long-term vision - continues Pasquini - have allowed us to overcome the uncertainties generated by Brexit and the Covid-19 pandemic. We have completed an important further step for the future development of the entire Group ”.
Essential Supply Products Ltd
Founded in 1990, Essential Supply Products Ltd today records a turnover of approximately 30 million euros per year. The company, with headquarters and production plant in Malvern, employs 85 people on 5 different converting lines.
The production plants are spread over an area of 77,000 square meters, of which 15,000 are covered. By position, market and type of production, these will allow to activate important synergies with the other factories of the Group.
Founder Carl Theakston will collaborate personally to facilitate the handover. His words reflect the awareness of having found in Lucart the ideal buyer for the future of the Company: "Over the years we have carried out numerous operations to allow ESP to continue to compete at the highest levels.
Over time, however, I realized that the investment standard necessary to make my ambitions for this company concrete required an investor who shared the values of the ESP family and that he had the vision and desire to grow the company sustainably and to its full potential.
Lucart - concludes Theakston - is a family-run multinational group that has been operating for 68 years. Its history, vision and commitment to sustainable development models make it the ideal investor so that the ESP adventure can continue in the best possible way ".
Info from Lucart
Automatic translation. We apologize for any inaccuracies. Original article in Italian.