German firm Henkel has completed the acquisitions of the global Darex Packaging Technologies business and the Sonderhoff Group, which were announced in March and May, respectively.
The acquisition is expected to strengthen Henkel’s Adhesive Technologies business and improve its technology portfolio.
Henkel CEO Hans Van Bylen said: “Strengthening our portfolio through targeted acquisitions is part of our strategy.
“Closing both transactions will allow us to expand the position of our Adhesive Technologies business as a global market and technology leader.”
Based in Massachusetts, Darex delivers high-performance sealants and coatings, as well as beverage, food or aerosol cans for the global metal packaging industry.
Henkel acquired Darex at a consideration of $1.05bn on a cash and debt-free basis, and The Sonderhoff Group for an undisclosed amount.
Darex employs approximately 700 people across 20 sites in 19 countries.
The Sonderhoff Group manufactures foamed-in-place gasketing solutions and customised dosing equipment.
Based in Germany, the company has subsidiaries in Austria, Italy, the US and China.
Henkel Adhesive Technologies executive vice-president Jan-Dirk Auris said: “The Darex and Sonderhoff Group businesses will complement our existing technology portfolio in an excellent way.
“Both companies serve attractive markets with substantial growth opportunities and both businesses provide customer-specific, high-impact solutions with an outstanding technical expertise.”
In the last fiscal year, Darex Packaging Technologies generated sales of $309m, while The Sonderhoff Group reported sales of nearly $60m.