Cleary Gottlieb represented long-time client Henkel in connection with its acquisition of The Sun Products Corporation for approximately $3.6 billion in cash. The deal, announced on June 24, 2016, closed on September 1, 2016. With this deal, Henkel now advances to the No. 2 position in the laundry care market in North America.
Henkel, headquartered in Düsseldorf, Germany, is a worldwide consumer and industrial products company with leading brands and technologies in three business units: Laundry & Home Care; Beauty Care and Adhesive Technologies. Henkel’s well-known brands include Persil®, Purex®, Schwarzkopf®, Dial®, Right Guard® and Loctite®. Cleary has previously advised Henkel on more than twenty successful transactions over several decades, many of which resulted in the acquisition of businesses operating using these well-known brands.
Sun Products, headquartered in Wilton, Connecticut, is a leading North American provider of laundry detergent, fabric softeners and other household products sold under well-known brands that include all®, Snuggle® and Sun®.