Domtar has expanded its Personal Care business in Europe in acquiring Spanish manufacturer Laboratorios Indas. The takeover announced in November 2013 has now been finalised.
Canadian Domtar Corporation has completed the acquisition of Spanish manufacturer of hygiene products Laboratorios Indas. A corresponding agreement had been signed on 19 November 2013. Domtar put the value of the Spanish company at €400m.
The Canadian company said that the move would make it one of the leading adult incontinence products manufacturers in Europe. In addition to these products, Indas also produces other absorbent hygienic and medical products.
The company operates a plant in Toledo near Madrid which has 283 employees and a site in Casablanca, Morocco which produces children's hygiene products for the Maghreb countries and employs 35 people. Including sales staff, the total number of employees at Indas is 460.
Indas has annual sales revenues of around €190m and an EBITDA of around €46m.