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Submits binding offer for $1,050 million for sealants and coatings specialist.
March 2, 2017
By: DAVID SAVASTANO
Henkel has entered into exclusive negotiations with GCP Applied Technologies to acquire its global Darex Packaging Technologies business for $1,050 million (€995 million) on a cash and debt -free basis.  Henkel has submitted a binding offer for the Darex Packaging Technologies business. Darex is based in Cambridge, MA, and supplies high-performance sealants and coatings for the metal packaging industry around the world. In fiscal 2016, Darex Packaging Technologies generated sales of approximately $300 million. Darex has about 700 employees and 20 sites in 19 countries.  “The intended transaction is in line with our strategy to strengthen our portfolio through targeted acquisitions and would reinforce the position of our Adhesive Technologies business as a global market and technology leader,” said Henkel CEO Hans Van Bylen.
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