Ontex Acknowledges Mexican Competition Authority’s Decision On Traditional Industry Practices And Confirms No Net Financial Cost To Ontex
AALST-EREMBODEGEM, Belgium – (COMMERCIAL THREAD) – Ontex Group NV (Euronext Brussels: ONTEX) noted today that COFECE, the Mexican antitrust authority, has announced its decision on legacy practices in the personal hygiene industry. Their decision confirms that the facts under consideration relate to the period from February 2008 to June 2014, prior to Ontex’s acquisition of Grupo PI Mabe, SA de CV (“Mabe”) in 2016. Ontex has proactively and fully cooperated with COFECE throughout its investigation.
As expected and disclosed in our annual reports, this decision has no net financial impact for Ontex, based on the contractual arrangements for its acquisition of the Mabe business.
Ontex remains fully committed to complying with laws and maintaining high standards of ethical business conduct in all countries in which it operates.
Ontex is a leading international provider of personal hygiene solutions, with expertise in baby care, feminine care and adult care. Ontex’s innovative products are distributed in more than 110 countries through Ontex brands such as BBTips, BioBaby, Pompom, Bigfral, CanBebe, CanPed, iD and Serenity, as well as through leading retailer brands. Employing some 10,000 enthusiasts worldwide, Ontex operates in 21 countries, with its headquarters in Aalst, Belgium. Ontex is listed on Euronext Brussels and is part of Bel Mid®. To keep up to date with the latest news, visit www.ontex.com or follow us on LinkedIn, Facebook, Instagram and YouTube.