Henkel has agreed to buy laundry-detergents maker Sun Products, in a deal worth $3.6bn. The move is the German group’s biggest acquisition in the US, and the first deal by new CEO Hans Van Bylen.
Sun Products is currently owned by Vestar Capital Partners, and owns brands such as Snuggle fabric softener, as well as Dial, Sun, and All detergents. It has two production sites and one R&D facility, and generated revenues of around $1.6bn last year.
Acquiring the group boosts Henkel in its fight with Procter & Gamble in the tough US detergents market, and makes the group the second-largest supplier of laundry-care products in North America.
Van Bylen, who became CEO of Henkel on 1 May 2016, is continuing with predecessor Kaspar Rorsted’s aim for Henkel to generate sales of €20bn annually.