Aalst, Belgium, April 2, 2024 - 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.
Enquiries
- Investors Geoffroy Raskin +32 53 33 37 30investor.relations@ontexglobal.com
- Media Maarten Verbanck +32 53 33 36 20corporate.communications@ontexglobal.com
About Ontex
Ontex is a leading international developer and producer of hygienic products and solutions for retailers and healthcare, with expertise in baby care, feminine care and adult care. Ontex's innovative products are distributed in around 100 countries through leading retailer brands, lifestyle brands and Ontex brands. Employing some 7,500 people all over the world, 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®. To keep up with the latest news, visit ontex.com or follow Ontex on LinkedIn, Facebook, Instagram and YouTube.
