German health & beauty and household care company Henkel has acquired all the shares of the French company Spotless Group in a deal, including debt, worth €940 million ($1.28 billion).
The deal will allow Henkel to add key detergent, household and insecticide brands such as Eau Ecarlate, Dylon, Grey and Catch to its portfolio.
“This acquisition is part of Henkel’s global strategy to selectively invest in attractive country category positions in mature markets“, said Henkel CEO Kasper Rorsted. “By acquiring the Spotless Group, we will strengthen our market position and enter highly profitable growth segments. The transaction will be immediately accretive to earnings.”
“The leading brands and technologies of the Spotless Group are a perfect fit for our portfolio with regard to business segments and regions and offer potential for future profitable growth,” explained Bruno Piacenza, Executive Vice President and responsible for Henkel’s Laundry and Home Care business.
Spotless Groups has 470 employees, holds leading positions in markets such as France, Italy, Spain and the United Kingdom and generated sales of €280 million ($382 million) in 2013. The acquisition is expected to be completed, subject to approval, by the first quarter of 2015.
Source: Expansion / Henkel