CITIC Capital Completes Acquisition of Ansell Sexual Wellness Business in Partnership with Humanwell
CITIC Capital China Partners III, L.P., a buyout fund managed by the private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”), is pleased to announce that it has completed the acquisition of Sexual Wellness business unit (“SW”) of Ansell Limited (ASX: ANN, or “Ansell”) on 1 September 2017, together with Humanwell Healthcare (Group) Co., Ltd. (“Humanwell” and collectively, the “Buyer Consortium”).
The acquired Sexual Wellness business will now become an independent company, Lifestyles Holdco Pte. Ltd. (“LifeStyles”). The newly formed LifeStyles is a global leader in sexual wellness sector, possessing a broad product range including condom, lubricant and other related products. In particular, it has the second largest market share in condom market with leading latex condom brands in their respective markets including: LifeStyles, Jissbon, MANIX, Unimil, Blowtex, etc., as well as the fast growing innovative non-latex condom global brand SKYN. Xuehai WANG, Chairman of Humanwell, said: “We are pleased to have completed the acquisition of a suite of successful global brands in sexual wellness sector. Humanwell has a long history and experience in the sexual wellness sector. Together with CITIC Capital and the management team, we are confident that we will unlock the potential of these brands, and achieve faster growth, both in China and globally.”
Hanxi ZHAO, Senior Managing Director of CITIC Capital, said: “The business we acquired already has a very strong position globally, with ample room for growth. We look forward to working together with Humanwell and the management team to further strengthen the company’s leadership position in the sexual wellness space.”
Jeyan HEPER, CEO of LifeStyles, remarked: “With the support from Humanwell and CITIC Capital, the management team is fully committed to continuing to build our brands, better serve our consumers, and drive growth in each of the markets that we are in.”