Sydney, Australia 06 December 2018 -- Solaris Paper today announced it has acquired ASX listed Asaleo Care's Australian consumer tissue business. In the deal which was announced to the ASX on 6 December, Solaris Paper will obtain complete ownership of Asaleo Care's Australian brands which include, Sorbent toilet and facial tissue, Purex, Handee Ultra paper towel and Deeko serviettes and disposable kitchenware.
The acquisition adds Asaleo Care's robust consumer portfolio to Solaris Paper's established luxury brands. The deal puts Solaris Paper in a position to leverage a larger product range through vertical integration.
Solaris Paper, ANZ CEO, Paul Tonkin said, "Solaris Paper's advanced converting processes and deep vertical integration are an ideal match for the strong market position that ASALEO CARE brands have built and maintained in Australia. We expect this deal will create considerable commercial synergies, allowing us to deliver quality products our customers have come to expect, with greater efficiency and reliability."
Solaris Paper is an Australian operated company that produces and distributes high quality toilet and tissue paper brands Livi and Emporia throughout the Australasia region to both Retail and Away-From-Home markets. Solaris Paper was established in Australia in 2007 and has a converting facility in Greystanes, NSW.
As quoted in today's ASX announcement, "CEO and Managing Director, Mr Sid Takla, said: "The objectives of the strategic review were firstly, to drive profitable growth through our brands by being more consumer and customer focused and second, to build a resilient business model that delivers sustainable, long-term growth. We believe this transaction delivers on both objectives. The core Personal Care and B2B brands and businesses offer higher margins, stronger sales growth and less volatile returns."
About Solaris Paper
Solaris Paper was established in Australia in 2007. Since its establishment, the company has invested heavily in the Australian market, including the build of its 18,000m2 state-of-the-art converting facility at Greystanes, Sydney, which employs 50 people.
The company maintains a strict, zero-tolerance policy for illegal fibre entering the supply chain and implements comprehensive, independently audited systems to ensure that the raw materials it purchases are from legal and responsibly managed forests.
About Asaleo Care
Asaleo Care is a leading personal care and hygiene company that manufactures, markets, distributes and sells Personal Care and Tissue products. Asaleo Care's portfolio of market-leading brands includes Sorbent, Handee Ultra, Deeko, Purex, Libra, Treasures, TENA, Tork, Viti and Orchid. The Company has 16 manufacturing and distribution facilities throughout Australia, New Zealand and Fiji and employs 1,000 people.