Essity Aktiebolag agreed to acquire Kenvue’s feminine care business in Brazil for $284 million on a cash- and debt-free basis.
The transaction is structured as an asset purchase from Kenvue subsidiaries and includes ownership of the Carefree, Sempre Livre and o.b. brands of sanitary pads, liners and tampons, as well as related manufacturing equipment in Brazil.
Essity is a global hygiene and health company headquartered in Stockholm and listed on Nasdaq Stockholm. The acquisition will strengthen Essity’s position in feminine care in Latin America and establish a significant position for the company in Brazil, the world’s fourth-largest feminine care market.
The S&C team advising Essity is led by Evan Simpson and includes Costanza Posarelli, Giada Tagliabue, Ting Ruan and Tatiana Pires. Rachel Yu, Jay Thornton and Kaley Mi advised on intellectual property matters. Juan Rodriguez and André Garcia do Fôjo advised on non-U.S. competition matters. Rita-Anne O’Neill and Nicholas Menillo advised on R&W insurance matters.