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Eczacıbaşı Sells Selpak and Solo for 600 Million USD

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It is official; Eczacıbaşı sells Selpak and Solo. In a landmark deal for the Turkish fast-moving consumer goods (FMCG) sector, Eczacıbaşı Holding has officially signed an agreement to sell Sanipak, the parent company of iconic tissue brands Selpak and Solo, to the Malaysia-based Arch Peninsula Sdn Bhd. The deal, disclosed to the Public Disclosure Platform (KAP) on March 23, 2026, values the company at a staggering $600 million.

Details and Financial Adjustments

The Share Purchase Agreement, signed on March 20, 2026, sets a base enterprise value of $600 million for 100% of Sanipak’s shares. However, the final cash consideration paid to Eczacıbaşı Holding will be finalized on the closing date following standard financial adjustments.

These include:

  • Net Debt & Cash Positions: Final totals will be reconciled at the time of transfer.

  • Working Capital Adjustments: Operational liquidity levels will influence the final price tag.

  • Regulatory Approvals: The completion of the sale remains subject to clearance from both domestic and international Competition Authorities.

Strategic Impact: A Global Shift in Paper Production

Sanipak’s acquisition by Arch Peninsula, a major global player in cellulose and paper production, signals a significant shift in regional market dynamics.

For Eczacıbaşı, this divestment aligns with a broader strategy to refocus on high-growth core sectors like healthcare and building products. For the Turkish market, the entry of a Malaysian industrial giant suggests an influx of foreign direct investment (FDI) to leverage Turkey’s strategic position as a production hub for Europe and the Middle East.

The Legacy of Selpak and Solo

Selpak, often used as a generic trademark for paper tissues in Turkey, and Solo, a staple in affordable hygiene, are among the most recognized domestic brands. Their transition to foreign ownership marks the end of an era for Eczacıbaşı’s consumer products division, which pioneered Turkey’s modern tissue paper industry in the 1970s.

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