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SCA to Acquire Majority Stake of San Saglik
Aug. 1, 2011 - SCA said that it is acquiring 95 percent of the Turkish hygiene products company San Saglik, producer of incontinence care products, from the family-owned MT Group. The price of the deal is SEK 95 million (approx. USD 14.9 million) on a debt-free basis. According to SCA, San Saglik currently is the second largest player in incontinence care products in Turkey. “The acquisition of San Saglik supplements the acquisition of Komili, producer of baby diapers, feminine care products and toiletries, which was announced recently. SCA will have a complete personal care product portfolio in Turkey," said Jan Johansson, CEO and President of SCA. "The strong distribution network in retail that we accessed through Komili is now also extended to healthcare. "Turkey is an important growth market with 70 million inhabitants and a rapidly growing population," he added. San Saglik generates annual revenues of approximately SEK 100 million. SCA has a purchase option on the remaining 5 percent of the company. SCA expects to complete the deal during the third quarter of this year, following regulatory approval. SOURCE: SCA |