The agreement between Sofidel and Hakle GmbH, originally announced on 29 March, includes consumer brand Hakle (toilet tissue segment), Hakle Feucht (moist toilet tissue segment), Dick&Durstig and Servus (kitchen towel segment).
Sofidel noted that it closed the acquisition of these brands, along with the IP (intellectual property) rights and domains.
'Strengthen Our Positioning'
Sofidel's vice-president of marketing and sales for consumer brands, Philippe Defacqz said, "Thanks to this acquisition, we significantly strengthen our positioning on the German market for toilet tissue and kitchen towels, and also enter a new category, moist toilet tissue."
The transaction structure will allow Hakle GmbH to continue with paper production and paper processing under a new name at the Düsseldorf-Reisholz site.
Founded in 1928, Hakle is one of the most popular brands in the toilet paper market in Germany.
In September of last year, Hakle commenced the process of reorganising itself with the help of self-administration proceedings.
It was mainly due to energy and raw materials prices and related increase in costs, which it could not fully passed on to customers.
Rising expenses for everything from sunflower oil to milk and grain have hit the packaged goods industry hard over the past two years, prompting companies to hike prices and helping fuel a cost-of-living crisis in many parts of the world.