Sorbent Paper Company Pty Ltd ("Sorbent") has signed an agreement with Kenvue's Singaporean subsidiary to acquire its Stayfree and Carefree feminine care business in Australia and New Zealand.
Stayfree and Carefree are well-established feminine hygiene brands with strong consumer recognition and longstanding retail presence. After the transaction closes, Sorbent's affiliate, Cottonsoft, will manage the New Zealand business.
The acquisition has marked Sorbent and Cottonsoft's entry into the feminine hygiene category and is a further step in their strategy to strengthen their position in the consumer tissue category while expanding their portfolios through established consumer brands in adjacent categories.
Following completion of the transaction, Sorbent and Cottonsoft intend to leverage their respective local market expertise, customer relationships, commercial capabilities and integrated supply chain to support the continued development of the Stayfree and Carefree businesses in Australia and New Zealand.
The transaction is subject to regulatory approval in Australia and New Zealand and other customary closing conditions, as well as the completion of the Kimberly-Clark and Kenvue transaction. Financial terms of the transaction have not been disclosed.
Nishant Grover, Co-Chair, Investments, was pleased to have reached an agreement with Kenvue to add Stayfree and Carefree to the growing consumer portfolio in Australia and New Zealand.
He said this acquisition reflected the focus on investing in established consumer brands with strong local positions and deep consumer recognition.
“Stayfree and Carefree would be great additions to our heritage brands Sorbent and Handee in Australia, as well as Paseo, Cottonsoft and KiwiSoft in New Zealand,” said Grover.
“As we continue to strengthen our product offering and bring the best of the world to discerning consumers across ANZ, we will also be able to serve our customers even more closely through our expanded portfolio."
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