Ontex in Sale of Brazilian Business to Softys for €110 Million

Cleary Gottlieb is representing long-standing client Ontex Group NV (Ontex) in the sale of its Brazilian business to Softys S.A. (Softys).

The transaction values Ontex’s Brazilian business at an enterprise value of BRL 671 million, or approximately €110 million at the current exchange rate.

The transaction signed on September 30, 2024. The closing, which is subject to customary conditions, including merger clearance from the Brazilian antitrust authority, is expected to occur in the first half of 2025.

Ontex, headquartered in Aalst, Belgium, and listed on Euronext Brussels, is a leading international developer and producer of care products and solutions for retailers and healthcare, with expertise in baby care, feminine care, and adult care. Ontex employs around 7,500 people across the globe, with a presence in 14 countries, and its products are distributed in 100 countries. The transaction is an important milestone in Ontex’s strategy – announced in December 2021 – to focus on its partner brands and healthcare business and explore strategic alternatives for its branded business in emerging markets.

Softys is a personal hygiene company with operations across Latin America. It is a wholly owned subsidiary of Empresas CMPC S.A., a global leader in the pulp and paper business, which is headquartered in Chile and listed on the Chilean stock exchange.

For more information, please see the press release here.