Essity has finalised its acquisition of the remaining 63.8 per cent of the shares in the Australian hygiene company, Asaleo Care. Essity AustralAsia, which is the name of the regional unit going forward, will be consolidated into Essity’s accounts, as of July 1, 2021. Essity is a global hygiene and health company, with its headquarters in Stockholm, Sweden.
In 2020, Asaleo Care reported sales of AUD 419 million (approximately SEK 2.7 billion) and underlying EBITDA of AUD 89 million (approximately SEK 574 million). Based on this, Asaleo Care would have contributed to Essity’s net sales and EBITDA by approximately 2 per cent for 2020, Essity said in a press release.Essity has finalised its acquisition of the remaining 63.8 per cent of the shares in the Australian hygiene company, Asaleo Care. Essity AustralAsia, which is the name of the regional unit going forward, will be consolidated into Essity's accounts, as of July 1, 2021. Essity is a global hygiene and health company, with its headquarters in Stockholm, Sweden.#
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.
“It is with great pleasure that we today welcome our new colleagues in Australia, New Zealand and the Pacific Islands to 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,” Magnus Groth, president and CEO, Essity.
Fibre2Fashion News Desk (GK)
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