Tissue World Magazine

Kimberly-Clark (K-C) is understood to have called off its plans to sell its European tissue unit, according to the Financial Times.

It follows reports during 2018 that the tissue giant was looking to sell the unit to private equity groups.

However, the FT reported that the unit has fetched far lower than the $1.2bn asking price.

It was put up for sale last year by the New York-listed company as it seeks to reduce costs and dispose of less profitable businesses.

Besides Andrex in the UK and Ireland, brands in the company’s European business include Hakle in Austria and Switzerland, and Scottex in Belgium, Italy and Spain.

K-C declined to comment at this time.