Henkel makes $1 billion pitch for Mass. packaging company

Henkel, the consumer goods giant that is moving its North American headquarters to Stamford this year, has entered into exclusive negotiations with GCP Applied Technologies to acquire its global Darex Packaging Technologies business for $1.05 billion.

Darex, based in Cambridge, Mass., is a supplier of can coatings and closure sealants for the food and beverage packaging industry, as well as personal care and industrial containers. In fiscal 2016, Darex generated sales of around $300 million. It has about 700 employees at 20 sites in 19 countries.

“The intended transaction is in line with our strategy to strengthen our portfolio through targeted acquisitions and would reinforce the position of our Adhesive Technologies business as a global market and technology leader,” said Henkel CEO Hans Van Bylen.

In fiscal 2016, Henkel”™s Adhesive Technologies business unit generated sales of approximately $9.47 billion.

Henkel, whose parent company is based in Düsseldorf, Germany, markets a wide range of consumer and industrial brand-name products in North America, including soaps, laundry detergents, and fabric softeners.