Asaleo Care's Shareholders Accept Essity's Offer to Acquire Remaining Shares in the Company

In 2020, Asaleo Care reported sales of AUD 419 million (approximately SEK 2.7 billion).

June 1, 2021 (Press Release) - Further to the announcement on February 16, 2021, that the hygiene and health company Essity had entered an agreement to acquire the remaining 63.8% of the shares in the Australian hygiene company Asaleo Care, Essity today notes the announcement by Asaleo Care that the company's shareholders voted in favor of accepting Essity's offer.

Essity will acquire the remaining 63.8% of the shares in Asaleo Care for AUD 1.40 cash per share. The consideration implies an equity value on a 100% basis of approximately AUD 760m (approximately SEK 4.9bn) and an enterprise value of AUD 855m (approximately SEK 5.5bn).

In 2020, Asaleo Care reported sales of AUD 419m (approximately SEK 2.7bn) and underlying EBITDA of AUD 89m (approximately SEK 574m). Based on this, Asaleo Care would have contributed to Essity's net sales and EBITDA by approximately 2% for 2020.

"The acquisition of Asaleo Care will facilitate the opportunity for profitable growth in Australia, New Zealand and the Pacific region and will further consolidate our position as a leading global health and hygiene company", Magnus Groth, President and CEO of Essity said in connection to the agreement.

The transaction is subject to approval by the Federal Court of Australia which will be sought at a court hearing scheduled for June 9, 2021. Subject to Court approval, the transaction is planned to be finalized on July 1, 2021.

About Asaleo Care

Asaleo Care is a leading personal care and hygiene company that manufactures, markets, distributes and sells essential everyday consumer products across the Feminine, Incontinence and Baby Care, Consumer Tissue and Professional Hygiene product categories. The company's products are used in households and businesses across Australia, New Zealand and the Pacific Islands.

Headquartered in Stockholm, Sweden, Essity is a global producer of consumer tissue, professional and personal hygiene and health products. The company has about 46,000 employees. To learn more, visit: www.essity.com.

SOURCE: Essity