Breaking News

Henkel to Swap 29% Stake in Clorox

November 22, 2005

German consumer goods company Henkel
plans to swap its 29% stake in Clorox for a combination of Clorox’s operating businesses and its stake in a joint venture with Henkel and $2.1 billion in cash, executives reported.
Last year, Henkel, owner of the Persil brand in Germany and Schwarzkopf hair care and cosmetics, paid $2.9 billion for U.S. soap maker Dial. Henkel executives said the company planned to finance the Dial deal partially by divesting existing holdings in either Clorox or Ecolab.
By acquiring its own shares back, the possibility is removed that Clorox could have been purchased by a third party. Henkel will exchange its Clorox shares for a newly-formed subsidiary of Clorox that will hold a portfolio of operating businesses including Soft Scrub, Combat, Home Mat and Home Keeper. The businesses have aggregate sales of $160 million and are “highly profitable.” The deal will end the relationship between the two companies, including Henkel’s right to representation on Clorox’s board.
blog comments powered by Disqus
  • A Facial Bar Grows in Brooklyn

    A Facial Bar Grows in Brooklyn

    Christine Esposito, Associate Editor||October 24, 2016
    With three doors in Canada, Blitz Facial Bar opens its first US location in one of the hippest areas of New York.

  • Free and Clear

    Free and Clear

    Melissa Meisel, Associate Editor||October 17, 2016
    OY-L aims for zero-chemical skin care.

  • Coming Clean on a Host of Issues

    October 17, 2016
    Cleaning Products Conference is set for Nov. 9-11, 2016 in Washington DC.

  • Change Is in the Air

    Change Is in the Air

    Doreen Wang, BrandZ ||October 3, 2016
    Technology is changing the personal care market

  • Skin Care of One’s Own

    Skin Care of One’s Own

    Christine Esposito, Associate Editor||October 3, 2016
    Nu Skin’s ageLOC Me—which melds the worlds of smart-phone technology, efficacious ingredients and personalization

  • Proof Positive

    Proof Positive

    Christine Esposito, Associate Editor||October 3, 2016
    Testing service providers enable companies to back up their claims and stay in compliance with regulations.