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Ontex to Sell Algerian Business

The transaction includes Ontex’s business in Algeria and related exports to certain neighboring countries

Ontex Group NV, a leading developer and manufacturer of hygiene products and solutions for retailers and healthcare, announced that it has entered into a binding agreement to sell its Algerian business to Hygianis SPA, its local distributor for more than 20 years. The transaction includes Ontex’s business in Algeria and related exports to certain neighboring countries.

The company’s business in Algeria generated about €50 million sales in 2022, and is part of Ontex’s emerging markets activities, which have been classified as discontinued operations following the strategic decision in 2021 to divest these.

Ontex aims to close the transaction, which is subject to customary conditions, by the end of September 2023.

Source
Ontex
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