A BLACKBURN toilet tissue maker has completed a £41.8m deal to buy one of the fastest growing independent tissue companies.

Accrol Group is a leading supplier of toilet tissues, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK and it has bought Leicester Tissue Company (LTC)

Leicester Tissue Company was founded in 2014 and supplies private label and branded toilet roll and kitchen towel to UK customers, including major supermarket multiples and value retailers.

The deal, on which Zeus Capital acted as advisers, will increase Accrol’s share of the total UK retail tissue market to approximately 16 per cent of the £1.7bn UK industry.

Gareth Jenkins, Chief Executive Officer of Accrol Group, said: “The Zeus Capital team has been fantastic to work with in delivering our first acquisition and oversubscribed placing and open offer.

“The acquisition of LTC is fully aligned with our “Brand Killers” growth strategy, adds significant capacity to our existing business and is a major step change that will enable the enlarged organisation to continue to grow ahead of the market."