Vinda International Holdings Limited to acquire SCA’s hygiene business in South East Asia, Taiwan and South Korea, as the company says in the press release received by Lesprom Network.
Net sales and adjusted EBITDA of the business to be acquired was HK$2.6 billion ($335 million) and HK$249 million ($32 million), respectively trailing 12 months ended 30 September 2015.
Christoph Michalski, CEO of Vinda, said, “Vinda aims to become a leading hygiene company not only in China but also in Asia. As SCA is a leading personal care player in Asia, this acquisition will enable us to gain immediate access to a Pan-Asian distribution network for tissue and other personal care products. This acquisition will also enable us to optimize our cost efficiency with an enlarged scale of operation.”
The debt free4 consideration of the acquisition is HK$2.8 billion ($361 million). The acquisition is subject to shareholders’ approval at an extraordinary general meeting to be held on 13 January 2016.
Vinda International Holdings Limited is a leading branded seller and manufacturer of hygiene products focusing on mainland China, Hong Kong and Macau.