Henkel submits offer to acquire Darex Packaging Technologies
Henkel has entered into negotiations with GCP Applied Technologies to acquire their global Darex Packaging Technologies business for around EUR995 million.
“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.
Strong position in the metal packaging market
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 EUR). Darex has about 700 employees and 20 sites in 19 countries.
Opportunity to further expand businesses globally
“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,” said Jan-Dirk Auris, Executive Vice President Adhesive Technologies at Henkel.
In fiscal 2016, Henkel’s Adhesive Technologies business unit generated sales of around EUR9 billion, making Henkel the leading solution provider for adhesives, sealants and functional coatings.
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About GCP Applied Technologies
GCP Applied Technologies is a leading global provider of products and technology solutions for customers in the specialty construction chemicals, specialty building materials, and packaging sealants and coatings industries.
