Pental Limited has divested its consumer products business to Dulux Group
Pental Limited (ASX:PTL), a trusted Australian provider of household chemical and cleaning products, has divested its consumer products business to DuluxGroup Limited.
Pental Limited manufactures, markets and distributes personal, household and commercial products in Australia, New Zealand and Asia. Going forward, Pental will transform to become a specialized e-commerce enterprise with a clear strategy and strategic investments.
DuluxGroup Limited manufactures, markets, sells and distributes decorative paints, coatings, adhesives and garden care and other building products in Australia, New Zealand, Papua New Guinea, Southeast Asia, China and the UK.
Oaklins’ team in Australia acted as M&A corporate advisor to Pental Limited on the divestment of its consumer products business to DuluxGroup. The transaction represents significant value for shareholders, with the total sale price of US$38.6 million (A$60 million), plus expected agreed and customary adjustments, the unwinding of the Duracell distributorship, debtors and creditors, representing approximately 118% of Pental’s (ASX:PTL) market capitalization.
Mark Hardgrave
Chairman, Pental Limited
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