Vinda to Acquire SCA’s Hygiene Business in Asia
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Vinda International Holdings Ltd., Hong Kong, this week announced that it will acquire SCA’s (Finland) hygiene business in South East Asia, Taiwan, and South Korea for HK$2.8 billion. Net sales and adjusted EBITDA of the business to be acquired was HK $2.6 billion and HK $249 million respectively.1
SCA has a leading position in a number of Asian personal care markets. In incontinence care, it is the market leader in Taiwan. In baby diapers, it is No. 1 in Malaysia and No. 2 in Singapore. In feminine hygiene, it is No.2 in Malaysia.
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 Sept. 30, 2015.
Christoph Michalski, CEO of Vinda, said that "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 free 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 Jan. 13, 2016.
