Yesterday The European Commission approved SCA’s acquisition of Procter & Gamble’s European tissue operations with a number of strong and well-known brands. The €512 million acquisition is part of SCA’s aim to be the leader of the tissue category in Europe and the preferred choice for European consumers and customers.
According to Lennart Persson, acting president and CEO of SCA, “The acquisition gives SCA key prerequisites for the creation of an even better platform for consumer-driven awareness and will strengthen our position in several important markets.”
“This decision by the European Commission means that we can start the integration work,” he added. “At a later date, we plan to provide additional financial information, decisions on possible restructuring, and the synergy effects of the acquisition, which will primarily affect brands and markets.”
With annual sales in excess of €11 billion, SCA (Svenska Cellulosa Aktiebolaget) is a global consumer goods and paper company that develops, produces and markets personal care products, tissue, packaging solutions, publication papers and solid-wood products.