RED BANK, N.J. (Aug. 14) — Ansell Ltd. was unsuccessful in its bid to purchase Polish condom maker Unimil S.A.
The surgical rubber latex glove and condom manufacturer made a $34 million tender offer in July for all the shares of Unimil with hopes of closing the deal in August. Its offer for Unimil, Poland´s largest condom maker, expired Aug. 11.
Ansell wanted the Krakow, Poland-based firm, which has a 65-percent share of the Polish market and 11 percent of the market in Germany, to give it production and packaging capacity in an area where it doesn´t have a large presence.
The purchase fit Ansell´s strategy of buying firms that broaden its geographic reach, according to CEO Dough Tough. The company will continue to pursue other acquisition opportunities, he said. Red Bank-headquartered Ansell, which also has a base in Melbourne, Australia, has been looking for companies that could fit into its structure for more than a year.
Ansell purchased a 75-percent interest in Wuhan Jissbon Sanitary Products Co. Ltd., a condom supplier in Wuhan, China, for about $18 million in March. It holds an option to acquire the remaining 25 percent of the business.