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Henkel to acquire Darex Packaging Technologies for $1.05bn

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By Jenny Eagle+

Last updated on 06-Mar-2017 at 10:47 GMT2017-03-06T10:47:43Z

Darex Packaging Technologies  supplies can sealants and coatings. Picture: GCP.
Darex Packaging Technologies supplies can sealants and coatings. Picture: GCP.

Henkel has entered into an agreement with GCP Applied Technologies to acquire its Darex Packaging Technologies business for $1.05bn, expected to close mid-2017.

The company based in Cambridge, Massachusetts, US, supplies can sealants and coatings for the food and beverage packaging industry.

Champagne sealants

For example, it supplies PVC-free closure sealants to replace cork sealants in champagne, Apperta non-BPA coatings and Darex can sealants.

Hans Van Bylen, CEO, Henkel, said the acquisition will strengthen its existing Adhesives Technologies portfolio.

This business is the perfect fit for our existing portfolio serving the metal packing industry and would strengthen our position in the non-cyclical business,” he said.

Darex Packaging Technologies reported $300m (€285m) sales in 2016. It has approximately 700 employees and 20 sites in 19 countries.

As part of negotiations, GCP will begin a consultation process with the Works Councils and Labor Unions.

GCP construction business

Upon completion of that process, it intends to enter into a definitive purchase and sale agreement in respect of the proposed sale.

GCP said in a statement the proposed sale of Darex to Henkel would allow it to focus on its construction and building materials businesses.

‘GCP would begin repositioning itself to become a specialty construction materials business and position the company to focus on growth in construction markets,’ it said.

Henkel’s Adhesive Technologies business generated sales of around €9bn last year providing adhesives, sealants and functional coatings.

BeverageDaily reported in 2003, Darex was working with H B Fuller to sell Darex's Daran PVdC (polyvinylidene chloride) latex for flexible packaging in conjunction with its hydroflex family of waterborne adhesives for drybond and wetbond laminations.

The latex coatings act as a barrier to oxygen, moisture, aroma, grease and other materials and are used in packaging to protect food and industrial products. The material is also used in multilayer packaging applications.

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