Henkel announces acquisition of JemPak
Henkel has announced that it an agreement with the Toronto Stock Exchange-listed company, Acasta Enterprises has been reached in the acquisition of JemPak.
The Düsseldorf-based company will pay $118 million Canadian dollars, which equals to €77 million, for the company on a cash free and debt free basis.
JemPak reported sales of around $90 million Canadian dollars in fiscal 2017 and currently contains around 140 employees.
Based in Concord, Canada, the company focuses on the laundry and home care circuit, by offering products in such categories as automatic dishwashing, laundry caps and fabric finishers.
“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,” Bruno Piacenza, executive vice president and responsible for Henkel’s Laundry and Home Care business, said.
The transaction is subject to customary closing conditions and is expected to close on or about May 31.
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