Actis Invests US$53m in Brazilian Cleaning Products Group GtexBy Actis Llp, PRNE
Thursday, November 11, 2010
SÃO PAULO, November 12, 2010 - Actis, a global emerging markets private equity specialist,
has invested US$53m in Gtex, a cleaning products company based in Brazil,
whose stable of brands include, Urca, UFE and Amazon. Following this
investment, Actis will initiate a comprehensive growth plan for Gtex in the
Brazilian market to include new product lines, geographical expansion, and
Gtex holds a large portfolio of cleaning products, with a
strong presence in segments including, laundry soap, fabric softeners,
disinfectants, bar soaps, multi-use cleaners and steel wool; its washing
powder Amazon H20, is one of the first eco-friendly brands in Brazil.
Gtex has over 1,000 employees and a strong geographical
footprint, with five production facilities located in the states of São
Paulo, Rio de Janeiro, Maranhão, Pernambuco and Mato Grosso.
Brazil is the fourth largest market in the world for cleaning
products with a US$6bn industry. This growing sector is being driven by the
arrival of an ever greater number of consumers into the market - it is
estimated that around 20 million Brazilians have entered the middle class
over the last five years. Better distribution income and greater social
mobility means the consumption of cleaning products is expected to experience
strong growth over the next few years.
Neiva and José Santos, the entrepreneurs who founded the
company, will keep a stake and continue their involvement in the company's
operations. "This partnership with Actis will allow Gtex to launch new
product lines within the existing portfolio of brands; becoming one of the
leading companies in the market", said José Santos.
Chu Kong, Co-Head of Actis in Latin America, said, "Actis's
experience in the consumer and retail sector, and our long term investment
approach, will safeguard the success of Gtex, supporting its sustained
growth. The expansion plan will be aggressive and will include innovative
products lines, geographical expansion and acquisitions that will complement
the Gtex portfolio."
Paul Fletcher, Senior Partner at Actis, said, "This is Actis's
second deal in Brazil in the last two months and is indicative of the
strength of Actis's commitment to Brazil and the opportunities we see there."
Actis's investment in Gtex is funded from the US$2.9 billion
fund, Actis Emerging Markets 3. Consumer is a key sector for Actis which
invested US$58m in Brazilian supermarket chain, Companhia Sulamericana de
Distribuição ('CSD') in September 2010.
Actis is a leading private equity investor in the emerging
markets with a growing portfolio of investments in Asia, Africa and Latin
America; it currently has US$4.7bn funds under management. Actis has over 100
investment professionals on the ground in nine offices worldwide.
Actis is committed to promoting the sustainable growth of the
private sector in the emerging markets. Our aim is to ensure that the capital
we raise and manage makes a lasting, tangible and positive difference in the
countries in which we operate by creating opportunities for the companies in
which we invest, as well as their stakeholders.
Gtex is a holding company that hosts a portfolio of leading
cleaning product brands including, Urca, UFE, Ruth, RIO and Amazon H2O.
Gtex's main products are laundry soap, softeners, disinfectants, multi-use
cleaners, coconut and bar soaps and steel wool. Gtex products are available
across Brazil. The company has a strong geographical footprint, with five
production facilities located in the states of São Paulo, Rio de Janeiro,
Maranhão, Pernambuco and Mato Grosso.
For further information please contact São Paulo, Brazil Vanessa Godoy Printec Comunicação +55-11-5182-1806 firstname.lastname@example.org London, UK Claire Davies Actis +44(0)207-234-5115 email@example.com
For further information please contact: São Paulo, Brazil, Vanessa Godoy, Printec Comunicação, +55-11-5182-1806, vanessa.godoy at printeccomunicacao.com.br. London, UK, Claire Davies, Actis, +44(0)207-234-5115, cdavies at act.is
Tags: Actis Llp, Brazil, November 12, Sao paulo