Ontex announces that it has finalized the sale of its Algerian business to Hygianis SPA, its local distributor for over 20 years, a transaction which includes its production site in Algeria as well as associated exports to certain neighboring countries.

"The transaction enables us to better focus on our core markets in Europe and North America, where we have significant growth and margin improvement potential", explains CEO Gustavo Calvo Paz.

The transaction is expected to generate pre-tax cash proceeds and transaction costs of around €25 million for the Belgian hygiene products manufacturer, subject to customary closing adjustments.

Copyright (c) 2024 CercleFinance.com. All rights reserved.