Ansell Ltd (ASX:ANN) has completed the acquisition of Kimberly-Clark Corporation’s Personal Protective Equipment business (KCPPE) which it first announced in April, raising $400 million towards the sale.
Ansell – which manufactures protective industrial equipment and medical gloves – told the market on April 8 that it had entered into a binding agreement with Kimberly-Clark to acquire 100 percent of KCPPE for US$640 million (A$969 million).
In completing the deal, Ansell will take on a brand which is world renowned for its gloves, protective apparel and safety eyewear, adding to its own portfolio of brands, including HyFlex, Ringers, MICROFLEX, TouchNTuff, GAMMEX, and AlphaTec.
Ansell has been trading at $25.91.