Henkel to buy a range of hair care brands from Procter & Gamble
03 March 2016
German consumer and industrial giant Henkel AG & Co, KGaA, today struck a deal to buy a range of hair care brands from its US rival Procter & Gamble (P&G) in order to expand its footprint in emerging markets.
The deal includes brands like Pert, Shamtu and Blendax, whose key countries are Russia, Saudi Arabia and Turkey, Henkel said in a statement.
In the fiscal year 2015, sales of these brands were close to $100 million.
The companies did not disclose the financial terms of the deal.
''This acquisition is part of our strategy to further strengthen our footprint in emerging markets and to invest in strong country category positions. We are convinced that emerging markets will continue to generate above-average growth in the future,'' said Hans Van Bylen, executive vice president for Henkel's Beauty Care business.
''These brands are a perfect fit for our Beauty Care business. They will strengthen our existing core category hair care and provide a platform for further expansion,'' he added.
Henkel had last year acquired the Pert brand in Latin America from P&G, and the latest transaction will help to further consolidate the Pert brand into its portfolio, Henkel said.