Vinda to acquire SCA’s hygiene business in South East Asia, Taiwan and South Korea
Vinda International Holdings Limited (3331.HK) dispatched a circular today in relation to the proposed acquisition of SCA‘s hygiene business in South East Asia, Taiwan and South Korea.
SCA has a leading position in a number of Asian personal care markets. In incontinence care, it is the market leader in Taiwan2. In baby diapers, it is No.1 in Malaysia3 and No.2 in Singapore2. In feminine hygiene, it is No.2 in Malaysia3.
Net sales and adjusted EBITDA of the business to be acquired was HK$2.6 billion and HK$249 million respectively trailing 12 months ended 30 September 2015.
Mr. 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. The acquisition is subject to shareholders’ approval at an extraordinary general meeting to be held on 13 January 2016.