K-C Completes Sale of Reisholz Tissue to Palero

Kimberly-Clark, Dallas, Texas, USA, has concluded the handover of its Reisholz tissue mill and its German rolled tissue brands, including Hakle® Dry Toilet Tissue, Dick & Durstig and Servus, to palero invest, a Luxembourg-based small cap private equity fund advised by palero capital GmbH. The sale, part of K-C's on-going Global Tissue Restructuring plan, was initially announced in November 2012.

A key priority throughout the sale process has been to ensure the future of the mill, K-C noted. Palero intends to continue to operate the mill as a going concern. The existing team will lead the future stand-alone business and manufacture and market branded as well as private label products for existing and new customers.

Kimberly-Clark will continue to use the Hakle® brand name for its Moist Bath Tissue brand in Germany for a period of time, after which the product will switch to another brand name. Furthermore, K-C will continue to use the Hakle® brand across both rolled and moist toilet tissue in Austria and Switzerland.