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March 2, 2017

Henkel to buy Cambridge packaging firm for $1B

PHOTO | Steve Laschever Henkel's North American headquarters is located in Rocky Hill, at One Henkel Way.

Rocky Hill consumer goods giant Henkel plans to buy Darex Packaging Technologies of Cambridge, Mass., for $1.05 billion, the company announced Thursday.

Henkel has submitted a binding offer for the business, which supplies high-performance sealants and coatings for the metal packaging industry around the world. After consulting with the relevant work councils and labor unions, Henkel said it intends to enter into a definitive purchase and sale agreement.

Darex has about 700 employees and 20 sites in 19 countries.In fiscal 2016, the firm generated sales of around $300 million.

Henkel markets a wide range of consumer and industrial brand-name products in North America, including soaps, laundry detergents, fabric softeners, antiperspirants, hair gels, and adhesives. Its parent company is based in Germany. Henkel North America is based in Rocky Hill.

In fiscal 2016, Henkel’s adhesive technologies unit generated sales of around $9.4 billion.

“The intended transaction ... would reinforce the position of our adhesive technologies business as a global market and technology leader,” said Henkel CEO Hans Van Bylen.

Jan-Dirk Auris, executive vice president of adhesive technologies at Henkel, said Darex’s business is “the perfect fit” for the Henkel portfolio that serves the metal packing industry.

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