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Industria La Popular picking up Unilever unit
Posted on Tuesday, 19 November 2019 14:55
Guatemala-headquartered Industria La Popular has reached an agreement to acquire the Central American direct application soap bars business belonging to UK consumer goods giant Unilever.

No financial details of the transaction, which will include a licence to use the Xtra, Surf, Unox and Rinso brands, have been disclosed at this time.

Completion is expected to follow during the second half of 2020, subject to the green light from local regulatory bodies.

Following closing, Unilever will retain the right to use the four named brands in the detergents category.

According to Zephyr, the M&A database published by Bureau van Dijk, the last time Unilever announced an asset sale was in July 2018, when it sold its spreads operations and business to private equity firm KKR, via its Sigma Bidco vehicle.

Prior to that, it agreed to offload its South African spreads unit to Remgro, via Robertson Holdings, for ZAR 7.00 billion (USD 473.66 million).

Industria La Popular was founded in 1920 and now employs in excess of 2,000 people.

The company’s portfolio comprises 15 homecare brands, while it is also active in the personal care segment.

Its products are sold under the Bex, Atomic, Terso and ActiClor banners, among others, and include bleaches, disinfectants, laundry soaps and window cleaners.

Unilever recorded turnover of EUR 39.30 billion in the opening nine months of 2019, of which EUR 16.20 billion was attributable to the beauty and personal care segment, with foods and refreshment and home care accounting for EUR 15.00 billion and EUR 8.10 billion, respectively.

Zephyr shows that the largest deal targeting a manufacturer of soap and other detergent to have been announced worldwide during 2019 to date is worth USD 750.00 million and took the form of an acquisition as Perrigo agreed to pick up Ranir Global Holdings.

© Zephus Ltd