On Friday, the consumer goods group Henkel announced a multi-billion dollar acquisition to strengthen its US business. Henkel CEO Hans van Bylen bought for 3.2 billion euros The Sun Products Corporation, the manufacturer of detergent brands such as All, Snuggle and Sun, the company said in Dusseldorf on Friday. The seller is a fund of financial investor Vestar Capital Partners.
The acquired company achieved in 2015, according to Henkel in the US and Canada sales of around 1.4 billion euros. Sun Products employs approximately 2,000 people and has two production plants and a research and development site in the US.
The acquisition comes as no surprise. Reigning since early May Henkel CEO Hans Van Bylen had repeatedly announced acquisitions.
Even after the business stay Henkel hungry, he hinted. “If a company fits strategically with our stores and is available at a reasonable price, even more, targeted acquisitions are possible,” van Bylen told the “Rheinische Post” (Saturday). “We have a strong balance sheet and have the necessary financial flexibility.”
The stock market responded positively. Henkel shares lost on Proposed referendum on United Kingdom membership of the European Union-day even slightly, but was better than the market. This is exactly the step which many have been waiting, commented Berenberg analyst James Targett. . The group used his existing resources and thus Increase its presence in US households – with correspondingly positive earnings contribution
The price for the purchase Reviewed the CEO as not too high: “We are investing in a successful business in a profitable and growing market. The price we pay for it, we think is very appropriate, “van Bylen said.
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