As part of the agreement, Hartmann will obtain all P&G assets associated with the Lindor product portfolio (Lindor, Salvacamas, Lindor Care, Lindor Pants), intellectual property, contracts with employees and a 25,000-square meter manufacturing facility in Montornés, Spain.
The acquisition will position Hartmann as one of the leading suppliers for adult incontinence products in Spain and Portugal.
“With this acquisition, Hartmann will become a major player in the adult incontinence market in Spain and Portugal,” says CEO Andreas Joehle. “It will further expand our local expertise in the incontinence market while giving us an opportunity to achieve synergies on a group level when it comes to operations, production and our supply chain.”
The move positions Hartmann to create cross-selling opportunities and strengthen market access to wholesalers, pharmacies and GPs thanks to Lindor sales volume and brand awareness. In fiscal year 2015-2016, Lindor had sales of over €75 million. The majority of the company’s sales come via the pharmacy channel, while a smaller amount can be attributed to institutions, such as hospitals and nursing homes.
Hartmann will continue to target the growing nursing home channel with more cost-efficient solutions that bring practical value to both caregivers and patients. The regional team will focus on reimbursed homecare products combined with an up-and-cross-selling approach through the pharmacy. In 2016, a study conducted by Spain’s National Statistics office found that the percentage of the population aged 65 and over, is currently at 18.7% and is expected to reach 25.6% in 2031 and 34.6% in 2066.
“Eighty percent of all people in nursing homes are incontinent,” says Marc Perez, regional director Western Europe of Hatmann. “When we look specifically at Spain, these numbers are also at 80%. Adapting and anticipating the impact of demographic change in combination with rising rates of chronic conditions and shrinking healthcare systems has positioned us well for this strategic buy.”
