- News
Introduction:
Henkel has entered into exclusive negotiations with GCP Applied Technologies to acquire their global Darex Packaging Technologies business for 1,050 million US dollars (around 995 million euros) on a cash and debt free basis.
Today Henkel has submitted a binding offer for the Darex Packaging Technologies business. Darex is based in Cambridge, MA, USA and supplies high-performance sealants and coatings for the metal packaging industry around the world. It serves various global customers producing beverage, food or aerosol cans, ensuring with its solutions the highest quality standards for many best-known brands. In fiscal 2016, Darex Packaging Technologies generated sales of around 300 million US dollars (around 285 million euros). Darex has about 700 employees and 20 sites in 19 countries.
“The intended transaction is in line with our strategy to strengthen our portfolio through targeted acquisitions and would reinforce the position of our Adhesive Technologies business as a global market and technology leader,” said Henkel CEO Hans Van Bylen.
“We are excited about the opportunity to add the high-performance Darex business to our existing Adhesives Technologies portfolio. We are glad that we are now entering into exclusive negotiations about a possible acquisition. Darex’s experience in developing innovative, high-performance sealants and coatings will underpin our commitment to provide our global customers with best-in-class solutions. This business is the perfect fit for our existing portfolio serving the metal packing industry and would therefore strengthen our position in this highly attractive and non-cyclical business. We would be happy to welcome to Henkel such a successful and experienced strong team with long-standing business expertise,” said Jan-Dirk Auris, Executive Vice President Adhesive Technologies at Henkel.
In connection with this binding offer, GCP will begin a consultation process with the relevant Works Councils and Labor Unions. Upon completion of that process, it is intended to enter into a definitive purchase and sale agreement in respect of the proposed sale. The proposed transaction will also be subject to customary closing conditions, including regulatory approvals.
In fiscal 2016, Henkel’s Adhesive Technologies business unit generated sales of around 9 billion euros, making Henkel the leading solution provider for adhesives, sealants and functional coatings.
The information on the China Cleaning Industry Information website is sourced with care and attention to ensure it is useful to our readers. However, it is not legal or professional advice and readers must seek appropriate advice before basing actions on it. China Cleaning Industry Information website cannot be held liable for any decisions made based on information we provide.
The information and content are provided "as is" and on an "as available" basis only and China Cleaning Industry Website does not give any representation, warranty, condition or other term as to its accuracy, timeliness, completeness, performance or fitness for a particular purpose of the site or any of the content or Information.
