Essity has decided to initiate a strategic review of the company’s ownership of Asian hygiene company Vinda and the Consumer Tissue Private Label Europe business. The review includes exploring different options and may potentially result in divestments.
Apr 26, 2023
Hygiene and health company Essity is initiating a strategic review of the company’s ownership of Asian hygiene company Vinda International Holdings Limited (Vinda) and the Consumer Tissue Private Label Europe business. The strategic review includes exploring different options and may potentially result in divestments. Essity’s net sales for 2022 amounted to approximately USD 15 billion (SEK 156 billion), to which Vinda contributed approximately 16 percent and the Consumer Tissue Private Label Europe business approximately 6 percent.
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Essity’s ownership in Vinda amounts to 51.59 percent and Essity consolidates 100 percent. Vinda’s net sales in 2022 amounted to approximately USD 2.4 billion (SEK 25.1 billion), out of which 83 percent were related to tissue and 17 percent were related to personal care. Net sales for the Consumer Tissue Private Label Europe business amounted to approximately USD 951 million (SEK 9.8 billion) in 2022, corresponding to about 15 percent of net sales in the Consumer Tissue category. This business encompasses seven production facilities in Belgium, France, Germany and Italy with approximately 1,900 employees.
