Noting market speculation regarding a potential acquisition, Belgium based Ontex Group NV has confirmed that it is engaged in discussions with the Brazilian company Hypermarcas SA with respect to a possible acquisition of its personal hygiene business, on the basis of an enterprise value of R$1 billion.  These discussions are at an advanced stage.

 

However, “neither party is legally bound to proceed with the transaction. There can be no assurance that a transaction will ultimately materialise. Ontex will provide further updates in due course if necessary”.

 

The Aalst-Erembodegem based company is a leading producer of personal hygiene products, ranging from baby diapers to products for feminine hygiene and adult incontinence. Ontex’s products are distributed in more than 110 countries through Ontex brands as well as leading retailer brands.

 

The group employs over 8,000 staff and has a presence in 25 countries. (RKS)