Sorbent to acquire Kenvue's Stayfree and Carefree ANZ business

PR Newswire··AUNZSG·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Sorbent Paper Company Pty Ltd has signed an agreement with Kenvue's Singaporean subsidiary to acquire its Stayfree and Carefree feminine care business in Australia and New Zealand. Following completion of the transaction, the New Zealand portion of the business will be managed by Sorbent's affiliate, Cottonsoft. The acquisition marks Sorbent and Cottonsoft's entry into the feminine hygiene category and represents a further step in their strategy to strengthen their positions in the consumer tissue category while expanding their portfolios through established consumer brands in adjacent categories. The transaction is subject to regulatory approval in Australia and New Zealand and other customary closing conditions, as well as the completion of the Kimberly-Clark and Kenvue transaction. Financial terms of the transaction have not been disclosed.

Impact on assets 2

Consumer Staples▲ · 2 stocks
Kenvue Inc.
KVUE
▲ PositiveCapitalrelevance

Kenvue is divesting its Stayfree and Carefree ANZ feminine care business to Sorbent, a portfolio-slimming M&A move.

Off-coverage companies 2

Sorbent Paper Company Pty LtdPrivate▲ Positive
Capitalrelevance

Sorbent signed an agreement to acquire Kenvue's Stayfree and Carefree ANZ business, expanding into feminine hygiene.

CottonsoftPrivate▲ Positive
Capitalrelevance

Cottonsoft, Sorbent's affiliate, will manage the New Zealand portion of the acquired Stayfree and Carefree business.

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