Ansell to acquire Kimberly-Clark’s PPE business for $640M
Ansell entered into a binding agreement to acquire 100% of the assets that constitute Kimberly-Clark’s Personal Protective Equipment business (KCPPE) for $640 million.
The acquisition, expected to be completed by September 2024, is subject to the satisfaction of antitrust approval and other customary closing conditions.
“For many years, we have assessed a combination with KCPPE as one of our most attractive acquisition opportunities and I’m delighted that we have now reached agreement with Kimberly-Clark that the optimal path forward for this business is under Ansell ownership,” said Neil Salmon, managing director and CEO of Ansell. “With this acquisition we are enhancing our sales of specialist products designed for clean room applications and recorded today under the Life Sciences SBU, while also widening our portfolio of products sold into Scientific verticals which include manufacturing of pharmaceuticals, medical devices and semi-conductors, and laboratories for academic and industrial research.”
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“The Kimtech and KleenGuard brands we are acquiring and the experienced KCPPE business team behind them have strong reputations for quality and innovation built over many years of industry leadership. These are similar qualities to Ansell, however KCPPE has particular areas of strength across product portfolio, geographic position and sustainability differentiation that will meaningfully enhance Ansell’s overall position in the marketplace and customer differentiation. Our existing footprint, in addition to our global organization and supply chain, creates the opportunity to generate significant synergy value from the acquisition while also enhancing our combined organic growth potential and we are excited about the benefits this will create for Ansell’s customers and shareholders,” said Salmon.
Ansell will enter a transitional services agreement with Kimberly-Clark, which includes support in transitioning customers, suppliers and employees to Ansell as well as providing various business support services for a period of up to 12 months.