Svenska Cellulosa Aktiebolaget (SCA), a Swedish paper and hygiene products maker, has completed a previously announced 1.9 billion Swedish kronor (US$290 million) acquisition of Taiwanese hygiene products company Everbeauty Corp (全日美實業).
The Stockholm-based consumer goods company said yesterday the debt-free acquisition would help strengthen its presence in rapidly growing Asian markets.
“The deal strengthens SCA’s market and brand positions in one of the group’s prioritized growth regions,” the company said in a statement posted on its Web site.
Asia is expected to account for 60 percent of global growth in hygiene products, SCA said earlier.
SCA announced its acquisition of Everbeauty on Feb. 25. At the time, the Swedish company said the move would drive SCA to become the market leader in incontinence care products in Asia and strengthen its market position and geographical reach in the regional market for baby diapers.
The unlisted Everbeauty was founded in Taipei in 1986, with a subsidiary established in Shanghai in 1993.
The company, with about 900 employees in Taiwan and China, sells baby diapers and incontinence care products under the Dr P and Sealer brands.
SCA said finalization of the transaction followed approval and clearance by the relevant Taiwanese authorities.