Solaris Paper has acquired ASX listed Asaleo Care’s Australian consumer tissue business. In the deal which was announced to the ASX on 6 December, Solaris Paper will obtain complete ownership of Asaleo Care’s Australian brands which include, Sorbent toilet and facial tissue, Purex, Handee Ultra paper towel and Deeko serviettes and disposable kitchenware. Source: Timberbiz
The acquisition adds Asaleo Care’s robust consumer portfolio to Solaris Paper’s established luxury brands. The deal puts Solaris Paper in a position to leverage a larger product range through vertical integration.
“Solaris Paper’s advanced converting processes and deep vertical integration are an ideal match for the strong market position that ASALEO CARE brands have built and maintained in Australia,” Solaris Paper, ANZ CEO, Paul Tonkin said.
“We expect this deal will create considerable commercial synergies, allowing us to deliver quality products our customers have come to expect, with greater efficiency and reliability.”
Solaris Paper is an Australian operated company that produces and distributes high quality toilet and tissue paper brands Livi and Emporia throughout the Australasia region to both retail and away-from-home markets. Solaris Paper was established in Australia in 2007 and has a converting facility in Greystanes, NSW.
