Henkel takes over France's Spotless for EUR 940 million

Henkel has signed an agreement with the investment funds advised by the BC Partners company to take over 100% of Spotless Group SAS from the French town of Neya on the Senna River. The value of this transaction is EUR 940 million, the German company said.

Spotless Group, which mainly operates in the areas of laundry aids, insect control and household care with brands such as Eau Ecarlate, Dylon, Grey and Catch, fits with Henkel's portfolio and offers potential for future profitable growth, the German company said. In 2013, Spotless Group generated sales of around €280 million. It employs about 470 people and is deemed a leader in developed European markets such as France, Italy, Spain, Benelux countries and Great Britain.

- The takeover of Spotless Group will strengthen our market position. This acquisition is part of Henkel's global strategy to selectively invest in attractive country category positions in mature markets - Henkel Chief Executive Kasper Rorsted said and added that the transaction would boost profits.

The acquisition is expected to be completed in the first quarter of 2015.