Hygianis SPA, a leading distributor of hygienic products and solutions in Algeria, has announced the acquisition of Ontex’s Algerian business. 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, stated that this transaction allows Ontex to focus more on its strategic roadmap for its Core Markets of Europe and North America, where there is significant growth and margin improvement potential. He expressed his best wishes to the team in Algeria as they embark on this new chapter in their story.
The cash proceeds from the divestment, prior to taxes and transaction costs, amount to approximately €25 million and are subject to customary post-closing adjustments. Ontex is a leading international developer and producer of hygienic products and solutions, specializing in baby care, feminine care, and adult care. Their products are distributed in around 100 countries under leading retailer brands, lifestyle brands, and Ontex brands. With a workforce of around 7,500 employees worldwide, Ontex has a presence in 20 countries, with its headquarters in Aalst, Belgium. Ontex is listed on Euronext Brussels and is part of the Bel Mid®. For the latest news
