Mexico City, May 2, 2023 – On April 27, the Federal Economic Competition Commission («COFECE» for its acronym in Spanish) approved the acquisition of the personal care products manufacturing and commercialization business in Mexico of the multinational Ontex Group NV (public company, listed on Euronext as «Ontex»), an international leader in the manufacture and sale of personal care products, by CMPC SA’s subsidiary Softys S.A. («Softys»), a Chilean company with a strong presence in Latin America, engaged in the manufacture and commercialization of personal care products and tissue paper.
For Softys, the acquisition will strengthen its business lines of baby diapers, pants, adult incontinence products and feminine pads in Mexico and the Latin American region, adding important brands to its portfolio such as BBTips, Chicolastic, BioBaby, Affective, Fiore, among others.
The transaction has an approximate value of € 258,000,000.00, and most of it involved assets located in Mexican territory.
Following a thorough analysis of the case, COFECE concluded that the operation will not pose a risk to competition, and it is expected that once the Ontex and Softys businesses are integrated, a player with greater capabilities will be able to compete with the current major players in the Mexican market.
The antitrust team of Basham, Ringe y Correa, S.C. successfully advised Softys in the authorization process before COFECE and in the coordination of the review process of the transaction in Honduras, Nicaragua and Colombia.