Hygianis SPA entered into a binding agreement to acquire Algerian business of Ontex Group on August 9, 2023. The transaction includes Ontex?s business in Algeria and related exports to certain neighboring countries. Ontex?s business in Algeria generated about ?50 million sales in 2022, and is part of Ontex?s emerging markets activities, which have been classified as discontinued operations following the strategic decision in 2021 to divest these.

Ontex aims to close the transaction, which is subject to customary conditions, by the end of September 2023.