Düsseldorf – With the successful closing of the acquisitions of the global Darex Packaging Technologies business and the Sonderhoff Group, Henkel strengthens its Adhesive Technologies business and complements its technology portfolio
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. The acquisition was announced at the beginning of March. The purchase price amounted to 1,050 million US dollars (around 919 million euros) on a cash and debt free basis.
The Sonderhoff Group, headquartered in Cologne, Germany, is a leading manufacturer of innovative foamed-in-place gasketing solutions and has broad expertise in developing and manufacturing customized dosing equipment. The acquisition of Sonderhoff was announced in May. Both parties agreed to not disclose financial details of the transaction.
“Strengthening our portfolio through targeted acquisitions is part of our strategy. Closing both transactions will allow us to expand the position of our Adhesive Technologies business as a global market and technology leader,” said Henkel CEO Hans Van Bylen.
“The Darex and Sonderhoff Group businesses will complement our existing technology portfolio in an excellent way. Both companies serve attractive markets with substantial growth opportunities and both businesses provide customer-specific, high-impact solutions with an outstanding technical expertise,” said Jan-Dirk Auris, Executive Vice President Adhesive Technologies at Henkel.
“We will finance the transactions with a combination of cash and debt. In addition to the 600 million Eurodollar bond placed end of May at attractive conditions, cash and the existing commercial paper programs will be used,” said CFO Carsten Knobel.
In fiscal 2016, Darex Packaging Technologies generated sales of 309 million US dollars (around 290 million euros). Darex has about 700 employees and 20 sites in 19 countries.
The Sonderhoff Group generated sales of about 60 million euros in 2016. The company employs around 280 people worldwide. Sonderhoff is headquartered in Germany and has subsidiaries in Austria, Italy, the US and China.
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.