Hygiene and health company Essity has finalised its acquisition of the remaining 63.8 per cent of the shares in Asaleo Care.
Essity AustralAsia, which is the name of the regional unit going forward, will be consolidated into Essity’s accounts as of July 1st , 2021.
“It is with great pleasure we today welcome our new colleagues in Australia, New Zealand and the Pacific Islands to Essity,” said Magnus Groth, President and CEO, Essity.
“Together we will continue to improve well-being through our leading products and solutions and facilitate the opportunity for profitable growth in this region.”
In 2020, Asaleo Care reported sales of $A419 million and underlying EBITDA of $A 89 million.
Based on this, Asaleo Care would have contributed to Essity’s net sales and EBITDA by approximately 2 per cent for 2020.
Asaleo Care manufactures and markets Personal Care and Professional Hygiene products in Australia, New Zealand and Fiji and Consumer Tissue in New Zealand and Fiji.
The company’s portfolio of market-leading brands includes Libra, Handee Ultra, Purex, Sorbent, Deeko, Viti and Orchid, and the global brands TENA and Tork through an exclusive license agreement with Essity.
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