RICHMOND, Australia—Ansell Ltd. will acquire 100 percent of the assets of Irving, Texas-based Kimberly-Clark's Personal Protective Equipment business (KCPPE), expanding the company's product portfolio and customer base in the scientific, industrial and medical sectors.
The acquisition, valued at $640 million, is expected to be complete by September 2024, subject to the "satisfaction of antitrust approval and other customary closing conditions," Ansell said in an April 8 news release.
Ansell, which is globally headquartered in Richmond, manufactures protective industrial equipment and medical gloves and sells in more than 100 countries.
"For many years, we have assessed a combination with KCPPE as one of our most attractive acquisition opportunities and I'm delighted that we have now reached agreement with Kimberly-Clark that the optimal path forward for this business is under Ansell ownership," Ansell Managing Director and CEO Neil Salmon said in a statement.
This acquisition, he said, will enhance Ansell's "sales of specialist products designed for clean room applications and recorded today under the Life Sciences SBU, while also widening our portfolio of products sold into scientific verticals."
This includes the manufacture of pharmaceuticals, medical devices and semi-conductors, and laboratories for academic and industrial research, he said.