《Henkel CEO Turns M&A Chest to Adhesives With U.S. Bergquist Deal》：
Henkel AG, the maker of Loctite glue and Persil detergent, agreed to buy Bergquist Co. as Chief Executive Officer Kasper Rorsted turns his takeover funds to adhesives after spending 1.2 billion euros ($1.5 billion) on household and personal-care brands this year.
Buying the Chanhassen, Minnesota-based company adds Bergquist’s range of adhesives and materials for managing heat in electronics generating 130 million euros in sales a year, Dusseldorf, Germany-based Henkel said in a statement. Financial terms of the purchase were not disclosed.
The Bergquist deal “is in line with our global strategy to invest in complementary leading technologies,” Jan-Dirk Auris, the head of Henkel’s adhesive technologies operations, said in the statement.
Rorsted overcame earlier concerns about overpriced deals to buy French household-care and insect-control company Spotless SAS and three U.S. hair companies for a combined 1.2 billion euros in June. Even after dipping into his transfer kitty, the Danish-born executive told Bloomberg News in a July interview he still had about 5 billion euros for takeovers, and was evaluating possible targets in the U.S. and Mexico.
The German company has a target of increasing revenue to 20 billion euros in 2016 from 16.5 billion euros last year, with half of sales coming from markets such as Latin America or the Asia-Pacific region. Henkel has struggled to find deals which fit its criteria in those regions, according to Rorsted.
Bergquist has 1,000 employees and five plants in the U.S., and one in China. Its products include substrates for circuit boards and liquid fillers to prevent electronic components from overheating.
To contact the reporter on this story: Alex Webb in Munich at awebb25@bloomberg.net
To contact the editors responsible for this story: Simon Thiel at sthiel1@bloomberg.net Andrew Noel, Tom Lavell
《Henkel CEO Turns M&A Chest to Adhesives With U.S. Bergquist Deal》：
Henkel AG, the maker of Loctite glue and Persil detergent, agreed to buy Bergquist Co. as Chief Executive Officer Kasper Rorsted turns his takeover funds to adhesives after spending 1.2 billion euros ($1.5 billion) on household and personal-care brands this year.
Buying the Chanhassen, Minnesota-based company adds Bergquist’s range of adhesives and materials for managing heat in electronics generating 130 million euros in sales a year, Dusseldorf, Germany-based Henkel said in a statement. Financial terms of the purchase were not disclosed.
The Bergquist deal “is in line with our global strategy to invest in complementary leading technologies,” Jan-Dirk Auris, the head of Henkel’s adhesive technologies operations, said in the statement.
Rorsted overcame earlier concerns about overpriced deals to buy French household-care and insect-control company Spotless SAS and three U.S. hair companies for a combined 1.2 billion euros in June. Even after dipping into his transfer kitty, the Danish-born executive told Bloomberg News in a July interview he still had about 5 billion euros for takeovers, and was evaluating possible targets in the U.S. and Mexico.
The German company has a target of increasing revenue to 20 billion euros in 2016 from 16.5 billion euros last year, with half of sales coming from markets such as Latin America or the Asia-Pacific region. Henkel has struggled to find deals which fit its criteria in those regions, according to Rorsted.
Bergquist has 1,000 employees and five plants in the U.S., and one in China. Its products include substrates for circuit boards and liquid fillers to prevent electronic components from overheating.
To contact the reporter on this story: Alex Webb in Munich at awebb25@bloomberg.net
To contact the editors responsible for this story: Simon Thiel at sthiel1@bloomberg.net Andrew Noel, Tom Lavell