Henkel announces agreement with San Francisco-based TSG Consumer Partners to acquire US hair professional companies SexyHair, Alterna and Kenra for around €270M in cash
Nevin Barich
DUSSELDORF, Germany
,
June 2, 2014
(press release)
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Further strengthen Hair Professional business
Significantly expand position in key region North America
Broaden portfolio with leading brands
Henkel signed an agreement with TSG Consumer Partners, San Francisco/USA, to acquire the three US Hair Professional companies SexyHair, Alterna and Kenra for around 270 million euros in cash.
These businesses will strengthen the Henkel US Hair Professional portfolio especially in the categories of Care and Styling. The acquisition will position Henkel as one of the leading companies in the world’s single biggest Hair Professional market. In the fiscal year 2013, the acquired companies generated sales of about 140 million euros.
“This acquisition is part of our strategy to invest in attractive country category positions in mature markets,” said Henkel CEO Kasper Rorsted. “North America is the biggest single market for Henkel and with these companies, we will further strengthen our presence in this region.”
“The high-performance and high-quality brands and organizations are a perfect fit for our Beauty Care business and will significantly expand our Hair Professional core category,” explained Hans Van Bylen, Executive Vice President and responsible for Henkel’s Beauty Care business.
The acquisition is subject to approval from antitrust authorities.
About Henkel
Henkel operates worldwide with leading brands and technologies in three business areas:
Laundry & Home Care, Beauty Care and Adhesive Technologies. Founded in 1876, Henkel holds globally leading market positions both in the consumer and industrial businesses with well-known brands such as Persil®, Schwarzkopf® and Loctite®. Henkel employs about 47,000 people and reported sales of 16.4 billion euros and adjusted operating profit of 2.5 billion euros in fiscal 2013. Henkel’s preferred shares are listed in the German stock index DAX.
About TSG Consumer Partners LLC
TSG Consumer Partners LLC is a leading investment firm with over $2.9 billion in equity capital under management, focused on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, beauty, personal care, household and apparel & accessories sectors. For more information please visit www.tsgconsumer.com.
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