Hygiene and health company Essity has signed an agreement today to acquire the remaining 25% of the shares in the Swedish medical solutions company ABIGO Medical AB. Essity acquired 75% of ABIGO Medical in February 2020. Following the acquisition, ABIGO Medical will be a wholly owned subsidiary of Essity in the product category Medical Solutions. The shares are being acquired from founder and chairman of the board Jan G. Smith at a valuation of SEK 900m for 100% of the company on a debt-free basis.
Hygiene and health company Essity today presents additional information regarding the program Manufacuring Roadmap, including optimizing and streamlining all of the Group’s approximately 60 wholly owned production facilities and logistics and distribution. The program extends until 2025 and is expected to contribute to Essity’s total annual cost savings of SEK 500-1,000m through the optimization of the production structure, productivity improvements and raw material and energy savings.
Hygiene and health company Essity has made an agreement to acquire approximately 44% of the Colombian hygiene company Productos Familia S.A. (“Familia”). After closing of the transaction Essity’s ownership in Familia will amount to at least 94%. Essity has been an owner in Familia since 1985, and currently owns 50% of the company. The purchase price amounts to USD 1,540m (approximately SEK 13bn) for 100% of the company on a debt free basis.
Hygiene and health company Essity is announcing price increases in Consumer Tissue as a result of higher raw material costs. The price increases are announced in Essity’s key markets and the percentage increases are on average in the mid-to-high single digits.
The leading global hygiene and health company Essity is acquiring the distribution rights to the wound care technology Sorbact[®] in Australia and New Zealand from the Australian company Bayport Brands. In 2020, sales of Sorbact[®] in the region amounted to AUD 1.7m (approximately SEK 11m).
Essity today held the Annual General Meeting.
Essity’s interim report for the first quarter 2021 will be published on April 23 at approximately 7:00 CET. In conjunction with publication, a telephone and web presentation will be held at 9:00 CET where President and CEO Magnus Groth will present and answer questions.
Hygiene and health company Essity’s tissue production facility in Lilla Edet, Sweden wants to become the world’s first large-scale tissue facility with fossil CO\2\ emission-free production. By completely replacing natural gas with biogas, the production facility will reduce its fossil CO\2\ emissions to zero during normal operations.
Hygiene and health company Essity is continuing to expand its range toward more sustainable products through the launch of Libresse® V-Cup, a reusable menstrual cup, in Denmark, Finland, Norway and Sweden. Libresse® V-Cup is a compliment to the brand’s assortment providing an opportunity for women to choose the product that best suits their lifestyle. Essity has previously launched menstrual cups in Latin America.