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BASF to Acquire Henkel’s Western European Flooring, Tiling and Waterproofing Business

Published on 2016-09-15. Author : SpecialChem

LUDWIGSHAFEN / DÜSSELDORF, Germany -- BASF and Henkel have signed an agreement under which BASF intends to acquire Henkel’s professional Western European flooring, tiling and waterproofing business in order to strengthen its portfolio in Construction Chemicals.

Henkel
BASF to Acquire Henkel’s Western European Flooring,
Tiling and Waterproofing Business

Acquisition of Henkel’s Businesses


  • The transaction includes Henkel’s flooring business sold under the Thomsit brand and the Thomsit trademark globally
  • The transaction also includes Henkel’s flooring, tiling and waterproofing business in Western Europe, currently sold under the Ceresit brand. 
  • BASF to use the Ceresit trademark for the Western European business in the categories of tiling and waterproofing
  • BASF intends to integrate the acquired business into PCI Group, a wholly-owned subsidiary of BASF

Main markets are Germany and Benelux. Total revenue for the business being acquired is in a higher double-digit million euro range.

The intended transaction includes a temporary lease of Henkel’s production site in Unna, Germany, where the respective products are being produced. BASF will operate the Unna site for a period of two to three years and will then continue the business at existing PCI production sites, mainly in Hamm, Germany, which is located nearby Unna. The transaction is subject to the approval of relevant antitrust authorities and is expected to close by year-end 2016. Both parties have agreed not to publish financial details of the transaction.

Strong Commitment to Construction Chemicals Product Portfolio


The acquisition of Thomsit and the Ceresit flooring, tiling and waterproofing business in Western Europe demonstrates our strong commitment to expanding our Construction Chemicals product portfolio. Together, the strong brands PCI and Thomsit will make BASF one of the leading companies in the market for flooring products in Germany. The Ceresit flooring, tiling and waterproofing business in Western Europe will allow us to enter market segments which we do not serve comprehensively today,” said Ralf Spettmann, President of BASF’s Construction Chemicals division.

Henkel’s building material business will remain an integral part of our portfolio and we will continue to develop it in all other regions. The Ceresit brand will continue to be the strategic platform for Henkel’s global building material business,” said Corporate Senior Vice President Hermann Deitzer, who is heading Henkel’s Consumer, Craftsmen and Building Business. “However, in Western Europe we do not see a long-term perspective for this business in its current setup as well as for our related activities in Unna. Thus we are pleased to have reached this agreement with BASF,” Deitzer added.

BASF intends to offer employees in this business mid or long-term employment perspectives within BASF Group wherever possible.

About BASF

BASF creates chemistry for a sustainable future. It combines economic success with environmental protection and social responsibility. The approximately 112,000 employees in the BASF Group work on contributing to the success of its customers in nearly all sectors and almost every country in the world. Its portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of more than €70 billion in 2015.

About Henkel

Henkel operates worldwide with brands and technologies in three business units: Laundry & Home Care, Beauty Care and Adhesive Technologies. Henkel employs about 50,000 people and reported sales of 18.1 billion € and adjusted operating profit of 2.9 billion € in fiscal 2015 

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Source: BASF
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