AALST, Belgium
,
April 2, 2024
(press release)
–
Ontex, a leading international developer and producer of hygienic products and solutions, announces that it has completed the divestment of its Algerian business to Hygianis SPA, its local distributor for more than 20 years. The transaction includes Ontex’s production facility and business in Algeria, as well as related exports to certain neighboring countries. Gustavo Calvo Paz, CEO of Ontex, said: “With this transaction, we make further progress in becoming the number one trusted partner for retail and healthcare brands, allowing us to focus even more on the strategic roadmap for our Core Markets of Europe and North America, where we have significant growth and margin improvement potential. I wish the full team of Algeria the very best while writing this new chapter of their story!” The cash proceeds prior to taxes and transaction costs are approximately €25 million, and remain subject to customary post-closing adjustments. Pdf version corporate.communications@ontexglobal.com Phone: +32 53 33 36 20 investor.relations@ontexglobal.com Ontex is a leading international personal hygiene group. We engineer and make high quality products for Baby Care, Feminine Care and Adult Care and are the partner of choice for consumers, retailers, and institutional and private healthcare providers around the world. © Ontex BV 2023
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