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Essity Headquarters in Stockholm, Sweden Essity Headquarters in Stockholm, Sweden Source: Essity

Sweden-Based Essity Buys 94% of Medellin’s Grupo Familia in Personal-Hygiene-Market Deal

Published in Companies Written by  April 23 2021 font size decrease font size increase font size 0
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Sweden-based multinational personal-hygiene-products giant Essity announced last night (April 22) that it just paid US$1.54 billion to boost its shareholding in Medellin-based counterpart Grupo Familia to “at least 94%,” up from 50% previously.

According to company CEO Magnus Groth, “Essity has been a [partial] owner in Familia since 1985.With this acquisition we are building a stronger platform in Latin America to increase growth, profitability and efficiency as well as accelerate digital transformation.”

Grupo Familia has commercial operations in 13 Latin American and Caribbean countries and exports from Colombia to seven nations, selling personal-hygiene and paper products under the “Nosotras,” “Pequeñín” and “Familia” brands. The company just reported 2020 net income of COP$317 billion (US$87 million), up from COP$247 billion (US$68 million) in 2019.

Essity meanwhile has commercial operations in 150 countries, selling personal-hygiene and paper products under the “Tena” and “Tork” brands.

Essity’s net sales in 2020 amounted to SEK122 billion (US$14.5 billion), while full-year 2020 net profits came in at SEK11.7 billion (US$1.4 billion), up from SEK10.2 billion (US$1.2 billion) in 2019, according to the company.

“Essity's decision to acquire the majority shareholding of Productos Familia S.A. will help accelerate Grupo Familia's long-term growth strategy, ensuring its access to more markets in the region,” according to Familia.

“We are happy with this announcement and to start this new chapter in the success story of Grupo Familia,” added company president Andrés Felipe Gómez. “We know that by working more closely with Essity we can leverage innovation, build stronger and more sustainable brands, accelerate digital transformation and foster a culture more agile and enterprising,” he concluded.

Read 203 times Last modified on Last modified on April 23 2021

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