Ontex completes the divestment of its Turkish business

Core Points - Ontex Group NV has completed the divestment of its Turkish business to Dilek Grup, which includes its operations in Türkiye and related exports to surrounding countries [1][2] - The divested business includes well-known brands such as Canbebe, Canped, and Prosafe, along with the Istanbul plant [1][2] - The transaction is part of Ontex's strategic refocus on retail and healthcare brands in Europe and North America, where the company sees significant growth potential [3] - The expected net proceeds from the divestment are approximately €25 million, subject to customary post-closing adjustments [3] - The finalization of the transaction will result in a non-cash accounting loss of approximately €(70) million due to accumulated currency translation reserves [3] Company Overview - Ontex is a leading international developer and producer of hygiene products, including baby care, feminine care, and adult care products, primarily serving retailers and healthcare sectors [5] - The company employs around 5,500 people and operates in 12 countries, with its products distributed in approximately 100 countries [5] - Ontex is headquartered in Aalst, Belgium, and is listed on Euronext Brussel, being a constituent of the Bel Mid index [5]