Henkel has entered into exclusive negotiations with GCP Applied Technologies to acquire their global Darex Packaging Technologies business for 1,050 million US dollars (around 995 million euros) 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, USA and supplies high-performance sealants and coatings for the metal packaging industry around the world.

It serves various global customers producing beverage, food or aerosol cans, ensuring with its solutions the highest quality standards for many best-known brands. In fiscal 2016, Darex Packaging Technologies generated sales of around 300 million US dollars (around 285 million euros). 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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