Aalst, Belgium, February 5, 2025 - Ontex Group NV [EURONEXT: ONTEX], a leading international developer and producer of personal care solutions, announces that it has entered into a binding agreement to sell its Turkish subsidiary to Dilek Grup. The transaction includes Ontex's business in Türkiye and related export business, as well as its plant in Istanbul.
Ontex's Turkish subsidiary develops, manufactures, commercializes and distributes predominantly branded personal hygiene products with leading positions in Türkiye and the surrounding regions. Ontex's Turkish subsidiary generated about €90 million sales in 2024 and is part of Ontex's Emerging Markets division, which has been classified as discontinued operations.
Dilek Grup is an established distributor of fast-moving consumer goods across Türkiye and neighboring countries, and it is diversifying into production of, among others, personal care products.
Laurent Nielly, President Europe, comments: "Ontex is very proud of its business in Türkiye and grateful for the team's resilience and excellence in execution over the past years, thereby building on, and strengthening, a legacy of strong positions and brands. We believe that Dilek Grup is well placed to further invest in and develop the business and the organization towards the next successful chapter in their journey."
With this agreement, Ontex is approaching the conclusion of its strategic refocus on retail and healthcare brands in Europe and North America. Ontex aims to complete the transaction in the course of the third quarter of 2025, subject to approval by the Turkish competition authority.
Enquiries
- Investors Geoffroy Raskin +32 53 33 37 30 investor.relations@ontexglobal.com
- Media Catherine Weyne +32 53 33 36 22 corporate.communications@ontexglobal.com
About Ontex
Ontex is a leading international developer and producer of baby care, feminine care and adult care products, both for retailers and healthcare. Ontex's innovative products are distributed in around 100 countries through retailers and healthcare providers. Employing some 7,500 people, Ontex has a presence in 14 countries, with its headquarters in Aalst, Belgium. Ontex is listed on Euronext Brussel and is a constituent of the Bel Mid® index. To keep up with the latest news, visit ontex.com or follow Ontex on LinkedIn.
