Henkel has signed an agreement to acquire The Sun Products Corporation from Vestar Capital Partners for US$3.6 billion.
“This transaction is a major strategic move for Henkel. North America is one of the most important regions for us worldwide. With the acquisition of Sun Products we will improve our position in the USA, the world’s largest laundry care market, and Canada,” commented Henkel CEO, Hans Van Bylen.
The acquisition will see Henkel rise to the No 2 spot in the US laundry care market as it scoops up popular brands such as Sun, all and Snuggle as well as Sun Products’ contract manufacturing arm.
“Sun Products will complement and strengthen our existing laundry and home care portfolio with well-established and successful brands in North America,” explained Bruno Piacenza, Executive Vice President and responsible for Henkel’s Laundry and Home Care business. “The Sun Products brands will enable us to further leverage Henkel’s innovation leadership and increase our relevance to trading partners in North America.”