Ontex, the Belgian leading producer of personal hygiene products, has taken over Grupo Mabe, the Mexican number two in personal care, for 314 million euros. With this takeover Ontex is gaining access to the Latin American market and the US. It's the first takeover since Ontex's IPO last year.
"We are pleased to welcome Grupo Mabe to the Ontex family", Ontex CEO Charles Bouaziz says. "Grupo Mabe is a company with the same values as Ontex. Built on strong foundations and with a very capable team, Grupo Mabe has built solid market positions, launched strong products through constant innovation and formed sustainable ties with its clients and consumers. Grupo Mabe also offers Ontex a new and exciting growth platform in both of the Americas."
Grupo Mabe exports to 42 countries and has a turnover of 400 million euros, of which 60 percent is realized in Mexico. The other 40 percent comes from its neighbouring Central American countries and from the United States. Ontex says that the takeover "fits within our strategy and will also lead to attractive returns for the shareholders."
Ontex, with its head office in Erembodegem, started out as a family business in Belgium. Since then, it has grown into an international company active in more than 100 countries. It has 15 factories in Europe, North Africa and Asia and has over 5,000 employees worldwide. It is the largest producer of disposable hygiene products for retail brands in Europe. With the takeover of Grupo Mabe, the company has opened the road to the American market. Ontex expects to finalize the transaction in the first quarter of 2016, on the condition that the competition authorities approve the takeover.
