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Ontex and Hygianis announce agreement for sale of Algerian business

Written by Customer Service on . Posted in Mergers And Acquisitions.

Aalst, Belgium, August 9, 2023 – Ontex Group NV (Euronext Brussels: ONTEX) (“Ontex”), a leading developer and manufacturer of hygiene products and solutions for retailers and healthcare, announces that it has entered into a binding agreement to sell its Algerian business to Hygianis SPA, its local distributor for more than 20 years. The transaction includes Ontex’s business in Algeria and related exports to certain neighboring countries.

Ontex’s business in Algeria generated about €50 million sales in 2022, and is part of Ontex’s emerging markets activities, which have been classified as discontinued operations following the strategic decision in 2021 to divest these. Ontex aims to close the transaction, which is subject to customary conditions, by the end of September 2023.

Enquiries

  • Investors           Geoffroy Raskin          +32 53 33 37 30         investor.relations@ontexglobal.com
  • Media              Maarten Verbanck     +32 53 33 36 20         corporate.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. 

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