GOJO Industries, the maker of Purell hand sanitizer, said on Thursday it would refinance its debt after sources told Reuters that negotiations about the sale...
- GOJO Industries, the maker of Purell hand sanitizer, said on Thursday it would refinance its debt after sources told Reuters that negotiations about the sale of the company to paper and building products manufacturer Georgia-Pacific fell through.
The suitor that made the most progress in the sale process for GOJO was Georgia-Pacific, a company owned by Koch Industries, the sources said. The terms of Georgia-Pacific's unsuccessful offer could not be learned.”We have selected and are pleased with our path moving forward,” the spokesperson said.
Global revenue in the hand sanitizing industry skyrocketed from about $1 billion in 2019 to $6.3 billion in 2020, according to Statista Market Insights, as the onset of the COVID-19 pandemic fueled demand. But sales dropped to $2.95 billion in 2022 as the pandemic subsided. Statista forecasts the market to grow by 3.96% on a compounded annual basis over the next four years.
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