The management teams of both Mardam and Capricho will jointly manage and expand the combined business under the Drylock name, and where Drylock will be the 100% shareholder of the new Brazilian companies.
Brazil is the world’s 4th largest baby care market with annualized baby diaper and pant sales of €1.7 billion. The Brazilian adult care market is currently €450 million. Drylock Brazil will have combined annualized sales of €100 million and will represent 7% market share in the baby segment and 8% market share in the adult care segment.
Both Mardam and Capricho have demonstrated sustained growth in the Brazilian retail market primarily driven behind their own company brands, as well as private label initiatives within the South East of Brazil. Operationally both Mardam and Capricho have well invested production sites that have been managed to world class standards whilst both running as family owned companies. Drylock will continue this tradition of both Mardam and Capricho being family owned companies - but will bring a new innovation and category expansion agenda to the Brazilian market and the brands and customers of Drylock Brazil.
Drylock currently has sales in both the baby and adult category in all major South American markets and sees the acquisition of two major local Brazilian companies as a natural next step for the company’s development. Given the strong presence of modern retail formats in both Brazil and Latin America, and the longterm growth potential of private label within the personal care segment across the region, Drylock sees Latin America as an important part of the company growth strategy.
Bart Van Malderen, CEO and chairman of Drylock Technologies on completion of this fourth and fifth acquisition of Drylock, says: "It is great to join forces with the two families of Mardam and Capricho, to have the opportunity to bring Drylock innovation and passion for the customer to Brazil as well as the broader Latin American market in support of expanding Drylock’s global footprint as an innovative leading global player in the personal care industry."
Bruno Dametto, on behalf of the Mardam company, says: "Working with both Drylock and Capricho now creates a new long term player in the Brazilian personal care market - this is good news for our customers who we will be able to serve even better than before with innovation developments and range expansions. This is very exciting for our customers, and our employees."
Dirceu Forti Filho, on behalf of the Capricho company, says: "The opportunity is great for both Capricho and Mardam - building a stronger team to compete in the market whilst making use of the Drylock passion to innovate for our customers both with our current branded platforms as well as private label."