Accrol sales hit £100m
SALES at Lancashire tissue and toilet roll manufacturer Accrol Papers have surged 14% to top £100m for the first time.
The Blackburn company, which was a family-owned enterprise until July 2014, when it unrolled a £66m investment deal with Manchester-based private equity firm NorthEdge, said that as well as higher sales, it had boosted employment levels significantly over the lat 12 months.
Based at the Roman Road Industrial Estate, Accrol now employs 450 people, an increase of more than 100 over the last year, with more positions being created monthly. Its sales in the year to the end of April 2014 were £87.6m, but have now hit £100m, NorthEdge announced.
The business, founded in 1993 by the Hussain family, has transformed over the last five years – doubling revenues, constructing new buildings and installing new converting lines.
Its latest investment in equipment and a paper mill will see manufacturing capacity rise from 80,000 tonnes to 100,000 tonnes per year.
Chief executive Majid Hussain said: “We have seen a sustained period of growth in the last five years and exceeding annual sales of £100m is an outstanding achievement for the business.
“We have improved facilities to extend our capabilities and ensure we continue to deliver the highest quality products to our customers, putting the business in a strong position for future growth.”
Chairman Peter Cheung, added: “Accrol’s growing presence in both the premium and discount grocery retail sectors has enabled the business to take advantage of the consumer shift towards great value products without compromising quality.”
Tom Rowley, investment director at NorthEdge Capital said Accrol had “consistently outperformed its competitors” and is an example of the strength of the region’s manufacturing sector.
He added: “The management team is strong and highly ambitious, and this latest achievement is testament to their efforts. We look forward to helping the business continue its growth over the coming years.”
