Belgian diaper maker Ontex Group announced that it has entered into an agreement to acquire the personal hygiene business of Brazilian company Hypermarcas S.A. (“HM personal hygiene”) for an enterprise value of R$1 billion ($306.3 million)

The acquisition of HM personal hygiene supports the Ontex strategy by extending its market position in the Americas to Brazil, increasing sales from Ontex-owned brands, and accessing a fast growing market for adult incontinence.

Over the past 12 months, HM personal hygiene has generated revenue of approximately R$1.2 billion ($367.6 million) in the growing babycare and adult incontinence categories in Brazil, with a portfolio of strong local brands including the baby care brands PomPom, Cremer and Sapeka and the adult incontinence brands BigFral and AdultMax.

HM personal hygiene is the market leader in the adult incontinence category and holds a solid No. 3 position in baby care in Brazil, the fourth largest hygiene market in the world. HM personal hygiene has outperformed the market since 2012.

Ontex CEO Charles Bouaziz comments: “We are very excited to welcome HM personal hygiene into the Ontex community. This business has achieved leading market positions in the baby care and adult incontinence categories, built on attractive brands which respond to consumer needs, and strong sales execution. Following the successful integration of Grupo Mabe in Mexico, adding this business to our Americas Retail Division will give us strong positions in two of the top five personal hygiene markets in the world. This is another major step forward for Ontex, confirming that our development into a leading international consumer company is fully on track.”