Shearman & Sterling is advising Kimberly-Clark Corporation on its acquisition of a 49.9% interest in Hogla-Kimberly from Hadera Paper Limited for approximately NIS 648 million (approximately US$162.5 million). Kimberly-Clark already owns the remaining 51.1% interest in Hogla-Kimberly. Closing is conditional on approval of the Israeli and Turkish antitrust authorities and is expected to occur in the first quarter of 2015.
Hogla-Kimberly is the largest marketer of non-food, disposable consumer products in Israel. Hogla-Kimberly manufactures and markets a broad range of products to the household, the retail and the institutional markets, including paper towels, toilet paper, tissue paper, feminine hygiene products, diapers and baby wipes, under the leading brands Lilly, Kleenex, Molett, Shmurat Teva, Kotex, Lilly Natural, Poise and Huggies.
The Hadera Paper Group is the market leader in the paper and paper products market in Israel. Hadera Paper is engaged through its subsidiaries in the manufacture and sale of a broad range of products, including a variety of printing and writing paper, packaging paper, corrugated board containers and packaging for consumer goods, household consumer products.
Kimberly-Clark, with brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, holds No. 1 or No. 2 share positions in more than 80 countries.