Sorbent acquires Stayfree and Carefree ANZ business from Kenvue
The companies expect the enlarged portfolio to improve their ability to serve retail customers and consumers across the region.
AUSTRALIA/NEW ZEALAND – Sorbent Paper Company Pty Ltd has entered into an agreement with Kenvue’s Singapore subsidiary to acquire the Stayfree and Carefree feminine-care businesses in Australia and New Zealand.
After completion, Cottonsoft, a Sorbent affiliate, will manage the New Zealand business.
The transaction will introduce Sorbent and Cottonsoft to the feminine-hygiene category and represents another step in their strategy to strengthen their positions in the consumer-tissue market while expanding into adjacent categories through established consumer brands.
Stayfree and Carefree are established feminine-hygiene brands with strong consumer recognition and longstanding retail distribution across Australia and New Zealand.
Sorbent and Cottonsoft plan to build on their local market knowledge, customer relationships, commercial expertise and integrated supply-chain capabilities to support the continued development of the two brands in both markets.
The brands will complement Sorbent’s existing Australian portfolio, which includes Sorbent and Handee. In New Zealand, they will join the company’s broader portfolio of Paseo, Cottonsoft and KiwiSoft.
Sorbent stated, “This acquisition reflects our focus on investing in established consumer brands with strong local positions and deep consumer recognition.”
The company added that the acquisition reflects its strategy of investing in established brands with strong local positions and high levels of consumer recognition.
“Stayfree and Carefree would be great additions to our heritage brands Sorbent and Handee in Australia, as well as Paseo, Cottonsoft and KiwiSoft in New Zealand,” the company said.
The proposed acquisition is subject to regulatory approval in Australia and New Zealand, the satisfaction of other customary closing conditions and completion of the proposed transaction between Kimberly-Clark and Kenvue.
The deal follows conditional approval by authorities in Australia and New Zealand for Kimberly-Clark’s acquisition of Kenvue.
As part of the approval conditions, Kimberly-Clark and Kenvue must divest the Stayfree and Carefree brands in the two markets. Sorbent’s agreement to acquire the businesses forms part of that divestment process.
The regulatory approval was reported earlier this month.
Completion of the transaction will allow Sorbent and Cottonsoft to combine the established market presence of Stayfree and Carefree with their own consumer-brand portfolios, local commercial networks and supply-chain infrastructure.
Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE.
