By BERNAMA
Karex Bhd will acquire a 100% stake in Medical-Latex (Dua) Sdn Bhd (MLD) from Germany’s Beiersdorf Aktiengesellschaft for RM13 million.
In a statement today, the world’s largest condom manufacturer said the proposed acquisition is expected to be completed by early October.
Karex said MLD and Beiersdorf have also concluded an original equipment manufacturing and supply agreement to appoint MLD as the exclusive manufacturer of all condoms for Beiersdorf and its units effective from the completion date.
Presently, MLD manufactures Beierdorf’s condom brands such as Duo and Harmony.
“Upon completion of this transaction, we are adding a reputable condom manufacturer to the group and securing a long-term supply contract of a global multinational corporation,” said Karex’ chief executive officer Goh Miah Kiat.
Karex said included in the conditional share purchase agreement would be the right of first refusal for Karex to acquire the Duo and Harmony brands, should the vendor wishes to dispose of them in the future.
“This will further enhance Karex’ market position and continue to reshape its footprint in its brand manufacturing segment,” it said.
MLD is one of Malaysia’s pioneer condom manufacturers since 1987, while Beiersdorf is a leading global skincare player with brands such as Nivea, Eucerin, and La Prairie.
You must be logged in to post a comment.