Kiev, June 24, 2011 – The owners of public joint-stock company VGP have attracted the investment from Europe Virgin Fund by means of a majority stake sale in the company. VGP, located in Lutsk, Western Ukraine, is a major Ukrainian producer of hygiene tissue products.
Investor is Europe Virgin Fund LP, a regional private equity fund sponsored by Dragon Capital. The fund invests in fast-growing private businesses with primary operations in Ukraine, Belarus and Moldova. VGP (www.ruta.ua) is Ukraine’s leading manufacturer of hygiene products such as toilet paper, paper towels, napkins and hankies under its primary brand “Ruta”.
VGP has reached a share of about 20% of the Ukrainian tissue paper products market since the start of its operation in 1999. Today the company successfully exports to Russia and other CIS countries. In 2010 VGP had 330 employees.
BIC Securities acted as an exclusive financial advisor to the owners of VGP.
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