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CONSUMER CYCLICALS: Ontex (ONTEX; B2/B) sells Brazilian business

CONSUMER CYCLICALS

The personal hygiene product manufacturer has sold its Brazilian business (flagged it would this year) for ~€110m to Softys - the same buyer of its Mexican business in 2023. After fees expected to see cash proceeds of €82m (€18m to be held in escrow, close expected 1H25).

The Brazilian business generated €97m in sales (11% of group) and adj. EBITDA of €13m (12%) in the 1H. Türkiye business has also been tabled for sale (~this year) - they were together valued at €141m under assets held for sale.

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The personal hygiene product manufacturer has sold its Brazilian business (flagged it would this year) for ~€110m to Softys - the same buyer of its Mexican business in 2023. After fees expected to see cash proceeds of €82m (€18m to be held in escrow, close expected 1H25).

The Brazilian business generated €97m in sales (11% of group) and adj. EBITDA of €13m (12%) in the 1H. Türkiye business has also been tabled for sale (~this year) - they were together valued at €141m under assets held for sale.

Keep reading...Show less