Henkel acquired Darex from GCP Applied Technologies for $1.05bn

GCP Applied Technologies Inc. has received a binding offer from Henkel to acquire GCP’s global Darex Packaging Technologies business for approximately $1.05bn. The sale of Darex would position GCP to focus on the growth opportunities in our construction and building materials markets. As the global market leader for can sealants, the Darex business would be a complementary fit to Henkel’s Adhesives Technologies portfolio. Darex’s sealing and coating products will extend Henkel’s offering in the metal packaging industry. GCP is committed to introducing and building superior solutions, based on industry leading research and development. “We are repositioning GCP for higher growth through differentiated technology and strong market positions targeting the global construction markets,” GCP Applied Technologies President and Chief Executive Officer, Gregory E. Poling. “The transaction will allow us to enhance our focus and will provide a strong balance sheet for internal investment and bolt-on acquisitions necessary to provide new products, technologies, and solutions that offer layers-of-value for our customers.”