The future of an historic Bath paper mill that started production more than 225 years ago has been secured following its acquisition by a major German company.
Portals Paper, which operates Bashford Paper Mill, said the takeover by Drewsen Spezialpapiere provided it with new opportunities for growth by widening its product range and generating new business opportunities.
Portals, which employs around 125 people, and Drewsen will remain and be run as separate businesses, each specialising in their own areas of expertise but with “a shared commitment to quality, security, sustainability and innovation”, the firms said.
They described the tie-up as combining a wealth of technical know-how, along with complementary product offerings, while also focusing on long-term customer relationships, service and quality.
Bathford Mill produces cylinder mould security papers used for passports, certificates and other security documents. It remains the only dedicated cylinder mould wood pulp security paper mill in the world.
Family-owned Drewsen, headquartered in Lachendorf, near Hanover, supplies high-quality speciality and security papers to customers worldwide.
The firm has a production capacity of 170,000 tons, employs more than 450 people, and generates an annual turnover of €215m (£179m), making it a global leader in the industry.
Paper was first produced on the Bathford Mill site in 1809, although the factory had previously produced corn, cloth, leather goods, flour and even famous Bath Oliver biscuits.
It was owned by a number of different businesses until in 1972 it become part of the Portals Group, which had ls supplied banknote paper to the Bank of England since 1724.
It was acquired by specialist printing giant De La Rue in 1995 before being sold in 2018 to London-based private equity firm Epiris, which reinstated the Portal name.
Since closing its banknote printing site at Overton, Hampshire, just over two years ago, Portals has concentrated on production at Bathford.
Portals Paper director Ross Holliday said: “For Portals, this partnership provides new opportunities for growth, enabling us to expand our product offerings while continuing our successful operations at the Bathford Paper Mill.”
Drewsen CEO Matthias Rauhut added: “This acquisition is an exciting development and represents a new chapter for both our organisations.
“Driven by a clear vision and shared values, mutual trust, transparent cooperation, and a commitment to strategic collaboration, Drewsen and Portals are stronger together, and we are ready to shape the future of the security paper industry.
“We can offer our customers new and unique possibilities, allowing for tailored, innovative security paper solutions that meet the highest standards.
“Additionally, we offer a unique network for the best customer advice, ensuring that our clients always have access to expert guidance for their specific needs.”
Financial details of the deal have not been disclosed.
