Ontex agrees sale of its business in Mexico.
M2 EQUITYBITES-July 29, 2022-Ontex agrees sale of its business in Mexico
(C)2022 M2 COMMUNICATIONS http://www.m2.com
Personal hygiene solutions provider Ontex Group NV (Euronext Brussels:ONTEX) (BSE:ONTEX) announced on Friday that it has signed a binding agreement to sell its Mexican business activities to Softys S.A., a personal hygiene company with operations across Latin America.
Softys is a wholly owned subsidiary of Empresas CMPC S.A., headquartered in Chile.
The contract, worth approximately EUR285m, includes Ontex's business in Mexico and related exports to regional markets as well as its manufacturing facility in Puebla, Mexico. The business has approximately 1,300 employees and generated sales of MXN7.4bn in 2021.
Ontex and Softys aim...
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