Kimberly-Clark announces acquisition

Kimberly-Clark (KC) has agreed it will purchase its remaining shares in its Andean affiliate, Colombiana Kimberly Colpapel (CKC).

The transaction will see KC acquire 31 per cent of its shares from several sources to bring its ownership of the company to 100 per cent.

According to KC, it expects the transaction to be completed towards the end of January and will boost its bottom-line results.

Bob Black, group president of KC’s developing and emerging markets businesses, said the increased ownership in the “successful affiliate” was positive for its presence in the region.

He went on to say: “Our Andean region joint venture has been very successful for nearly four decades and we have enjoyed an excellent working relationship with Colinversiones.”

CKC is a manufacturer and marketer of consumer tissue and personal care products and also sells K-C professional products, including brands popular in the UK – Huggies, Kleenex, Scott, Kotex, Depend, Duramax and Kimberly-Clark.