CLOVERDALE, CA, November 19, 2015-

Belgian hygiene products maker Ontex Group is acquiring Mexico’s Grupo P.I. Mabe, S.A. de C.V. in a transaction expected to be completed in the first quarter of 2016 assuming necessary antitrust approvals. The deal gives Ontex, a producer of both branded and private label products, a big position in Latin American markets as well as some sales into the United States. Also, Mabe markets some of its products in Western Europe.

Ontex is paying 5.65 billion Mexican pesos ($342 million or Euro 314 million), in cash and Ontex shares. Ontex added that “This includes the assumption of debt, estimated at MXN 930 million (€52 million). An additional deferred consideration of up to MXN 1,550 million (€86 million) may be payable contingent upon Grupo Mabe achieving EBITDA targets for the period 2015 to 2017.”

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