German consumer products group Henkel said it was buying U.S. laundry and home care company The Sun Products Corp from a fund of Vestar Capital Partners in a deal valued at about 3.2 billion euros ($3.5 billion) including debt.
The acquisition, which Henkel will finance with debt, will add well-established brands like laundry detergents All and Sun and fabric conditioner Snuggle to the German company’s portfolio and make it the No. 2 laundry care maker in North America.
“This transaction is a major strategic move for Henkel… With the acquisition of Sun Products we will improve our position in the USA, the world’s largest laundry care market, and Canada,” Henkel Chief Executive Hans Van Bylen said in a statement.
Sun Products has around 2,000 employees and generated annual sales of about 1.4 billion euros in the United States and Canada in fiscal 2015. It has two production sites and one research and development center in the United States.
The deal will raise the proportion of sales Henkel’s laundry and home care division generates in North America to about a third from 13 percent.
By Maria Sheahan
The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.
The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.
Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.