THC Acquires Polish Paper Bag Manufacturer Promar

The transaction was carried out as a succession solution, with founders Ryszard and Halina Marciniak stepping back from the business.

SEATTLE (Scrap Monster): Polish private equity firm Tar Heel Capital (THC) has acquired 100 per cent of the shares in Promar, a paper bag manufacturer in Jarocin, western Poland. The transaction marks a generational handover for the family-owned business and is intended to support the company’s further development in the growing market for sustainable packaging solutions.

Promar was founded in 1993 and initially focused on distribution before launching its own production operations in 1996. Today, the company offers a wide portfolio of paper bags and wrapping paper. It also supplies major domestic and international clients.

The company recently completed a major investment project worth nearly PLN50m (€12m), which included the relocation of production to a modern facility and the purchase of new machinery to expand the product range. According to THC, Promar is not yet utilising its full production capacity but sees potential for growth in both domestic and export markets.

The transaction was carried out as a succession solution, with founders Ryszard and Halina Marciniak stepping back from the business. No family successor was available to take over the company, leading to the search for an external investor.

The new owner, THC, is currently investing through its fourth fund (THC IV), which has a capital base of €120m. The fund targets mid-sized Polish companies with strong growth potential, especially in manufacturing and pro-environmental sectors.

In 2024, Promar reported revenues of PLN85m (€20m), of which around 75 per cent came from exports, particularly to the UK, France, the Czech Republic, and Denmark. THC aims to accelerate the company’s growth through increased sales activities, production automation, and operational cost optimisation.

As part of the development strategy, Jarosław Rzytka has been appointed to the management board and is expected to take on the role of CEO following the formal closing of the transaction.

Courtesy: www.euwid-paper.com