DÜSSELDORF, Germany — May 10, 2018 — Henkel signed an agreement with the Toronto Stock Exchange-listed company Acasta Enterprises Inc. to acquire JemPak Corp., Canada, for 118 million Canadian dollars (approximately $91.7 million or 77 million euros) on a cash free and debt free basis.
In fiscal 2017, JemPak Corporation reported sales of around 90 million Canadian dollars (approximately $70 million or 60 million euros) and employs about 140 people. Based in Concord, Canada, the business is focused on the United States and the Canadian laundry and home care retailer brands business and offers products in attractive and growing categories such as automatic dishwashing, laundry caps and fabric finishers. It operates two manufacturing sites.
“This acquisition complements and strengthens our existing laundry and home care portfolio in North America. We will further expand our No. 2 market position in this attractive market and will strengthen our leading position in the retailer brands category in North America,” explained Bruno Piacenza, executive vice president and responsible for Henkel’s Laundry & Home Care business.
The closing of the transaction is subject to customary closing conditions and is expected to close on or about May 31, 2018.
Posted May 15, 2018
Source: Henkel
