Unicharm is set to acquire 100% of outstanding shares in Myanmar Care Products (Mycare), a leading supplier of feminine hygiene products and disposable diapers in Myanmar, an ASEAN country with a population of 62 million, nearly the same size at Thailand.
Founded in 1995, Mycare is the manufacturer of brands including Eva, which is number one in the country’s feminine hygiene napkins market, and MyBaby diapers, which is the second largest baby diaper brand in Myanmar after Unicharm’s MamyPoko.
“Our management decision to acquire Mycare has been made on the grounds that new markets are being created and overwhelming share is further secured by accelerating the speed of brand penetration through the expansion product availability and mutual utilization of manufacturing technology and marketing know-how as a result of Mycare to become a part of the Unicharm group,” the company said in a release announcing the acquisition.
After Indonesia, the Phillipines and Vietnam, Myanmar is one of the top ranking countries in the ASEAN in terms of population size and GDP growth potential. Through its Global 20 Plan, Unicharm has unveiled a goal aimed a domainating Asia and has such been expanding its business side in disposable segments in ASEAN markets. Unicharm first entered the Myanmar market in 2006 and has already grown quickly in this market, according to the company.