SCA announces acquisition of outstanding 50% share of JV Fine Sancella from Nuqul Group for approximately US$25M; Fine Sancella a feminine care products company in parts of the Middle East under Nana, Cinderella brands
June 17, 2014
– SCA, the leading global hygiene and forest products company, is strengthening its presence in the Middle East by acquiring the outstanding 50% of the joint venture Fine Sancella from Nuqul Group. The purchase consideration for the outstanding shares amounts to approximately USD 25m (about SEK 165m) on a debt-free basis.
Fine Sancella is a leading company in the area of feminine care products in parts of the Middle East under the Nana and Cinderella brands. The company reported sales of about SEK 200m in 2013.
Ownership of the entire company strengthens our presence in the Middle East, which is a strategically important emerging market for SCA.
SCA acquired 50 percent of Fine Sancella in 2007.