Ontex Enters Binding Agreement to Sell Turkish Subsidiary to Dilek Grup
Deal News | Feb 05, 2025 | Globenewswire
Ontex Group NV, a renowned developer and producer of personal care solutions, has confirmed a binding agreement to sell its Turkish subsidiary to Dilek Grup. This transaction involves Ontex's operations in Turkey and related exports, along with its Istanbul-based plant. Ontex's Turkish arm, part of the Emerging Markets division classified as discontinued operations, achieved around 90 million in sales for the year 2024. The buyer, Dilek Grup, is a notable distributor of fast-moving consumer goods in Turkey and neighboring countries, expanding into personal care product production. This sale aligns with Ontex's strategic refocus on retail and healthcare brands in Europe and North America. Completion is expected by the third quarter of 2025, pending Turkish competition authority approval.
Sectors
- Personal Care Products
- Fast-Moving Consumer Goods (FMCG)
Geography
- Belgium – Ontex Group NV is based in Aalst, Belgium, which is relevant as the primary geographical location of the target company.
- Turkey – The transaction involves Ontex's Turkish subsidiary and operations, making Turkey a significant geographical focus of the article.
Industry
- Personal Care Products – The article involves Ontex, a company specializing in personal care products, highlighting the sale of its Turkish subsidiary in this industry.
- Fast-Moving Consumer Goods (FMCG) – Dilek Grup, the buyer, is a distributor in the FMCG sector, which aligns with their diversification into personal care products as mentioned in the article.
Financials
- 90 million – The sales generated by Ontex's Turkish subsidiary in 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ontex Group NV | Seller | Company | A leading international developer and producer of personal care products. |
| Dilek Grup | Buyer | Company | An established distributor of fast-moving consumer goods across Turkey and neighboring countries. |
| Turkish competition authority | Regulatory Body | Government | The authority responsible for approving the transaction in Turkey. |
| Laurent Nielly | Commentator | Person | President Europe at Ontex, providing commentary on the transaction. |