Ontex, a leading international developer and producer of hygienic products and solutions, has announced the completion of the divestment of its Algerian business to Hygianis SPA, its local distributor for over two decades. The transaction includes the transfer of Ontex’s production facility and business in Algeria, as well as related exports to neighboring countries.
Gustavo Calvo Paz, CEO of Ontex, stated that this divestment allows the company to focus on becoming the top partner for retail and healthcare brands. This strategic move will enable Ontex to concentrate on its Core Markets in Europe and North America, where there is significant growth and margin improvement potential. Calvo Paz also expressed his well wishes to the Algerian team as they embark on this new chapter.
The cash proceeds from this transaction, approximately €25 million before taxes and transaction costs, are subject to customary post-closing adjustments.
Ontex is a global leader in developing and producing hygienic products for retailers and healthcare, specializing in baby care, feminine care, and adult care. Their innovative products are distributed in around 100 countries through various leading retailer and lifestyle brands, as well as Ontex’s own brands. With a workforce of around 7,500 employees worldwide, Ontex operates in 20 countries with its headquarters located in Aalst, Belgium. Ontex is listed on Euronext Brussels and is part of the Bel Mid® index. Stay updated with the latest news by visiting ontex.com or following Ontex on social media platforms like LinkedIn, Facebook
