Essity recently completed the acquisition of 45.8% of the shares of Productos Familia S.A., of which Essity did not yet own. The acquisition was calculated on a valuation of US$1.54 billion for 100% of the company on a debt-free basis.

Therefore, as of this moment, the Swedish hygiene and health company now owns 95.8% of the company's shares. The main drivers of this transaction are the strong value of Grupo Familia's brands and its superior products, as well as the leading position in the countries where it is present.

Regarding the purchase of shares and future profits, the business group said: "This news reaffirms the commitment of Grupo Familia and Essity to continue growing in the region and consolidate itself as the fastest growing hygiene and health company in Latin America."

It should be noted that Essity has maintained a solid relationship with Grupo Familia since 1985 and the closing of this negotiation represents numerous strategic advantages for both organizations such as leveraging innovation, building stronger and more sustainable brands, promoting an agile and entrepreneurial culture, accelerating digital transformation, as well as an opportunity for professional growth for all employees in a global organization.

Pablo Fuentes, President of Essity in Latin America, said: "I am pleased to welcome Grupo Familia's employees to Essity. This acquisition assures us of a future of sustained growth, profitability and efficiency."

Likewise, Andrés Felipe Gómez, president of Grupo Familia argued: "This decision is part of Grupo Familia's long-term strategy, in which working together will allow us to develop new business opportunities since we have the same purpose of improving the lives of millions of people in Latin America by offering leading hygiene and health solutions."

On the other hand, it is worth noting that Grupo Familia already consolidates its results in Essity's accounts. During 2020, it recorded organic sales growth of 2.8%, representing more than US$757 million, adjusted EBITDA of US$155 million and EBITA US$128 million, equivalent to an adjusted EBITA margin of 16.8%.