SCA Buys Remaining 50% Share of Chilean Tissue Producer PISA
PISA holds the number two position in Chile with its consumer tissue brand Favorita.
April 18, 2012 - SCA said that it has agreed to acquire the remaining 50% in the Chilean hygiene company PISA (Papeles Industriales S.A.), and will own 100% of the company upon completion of the deal.
The purchase price is approximately SEK 520 million (aprox. USD 76.85 million).
PISA's turnover in 2011 was about SEK 780 million, SCA said. The company is primarily involved in consumer tissue and the Away-From-Home (AFH) market.
In addition, incontinence care products under SCA’s global brand TENA have been introduced in Chile through PISA.
SCA initially acquired a 50% stake in PISA in 2003.
SCA expects the deal to close by the end of April, upon which, PISA will be a fully-owned subsidiary of SCA.
"The time is ready for us to take the next step in our expansion in Latin America, where the PISA acquisition further strengthens our presence on this important growth market," said Jan Johansson, President and CEO of SCA.
Accoding to SCA, PISA holds a position as number two in consumer tissue with the brand Favorita, and within AFH tissue, PISA also holds a number two position in Chile. The company has over 400 employees and a production facility in the capital Santiago.