Adhesives & Sealants Headlines


October 11, 2004
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Henkel Corp., a U.S. affiliate of Henkel KGaA, Düsseldorf, Germany, has agreed to acquire Chicago-based Sovereign Specialty Chemicals Inc. Sovereign is a leading American supplier of specialty adhesives, sealants and assembly adhesives with $391 million in sales for the period ended June 30, 2004. On Oct. 6, 2004, Henkel KgaA and Sovereign signed a definitive agreement under which Henkel will acquire all the shares in Sovereign from an investor group led by AEA Investors LLC. The transaction value of the acquisition, including all debt and liabilities, is approximately $575 million. The transaction is subject to approval from antitrust authorities and is expected to be completed by the end of 2004. "The acquisition of Sovereign Specialty Chemicals strengthens our position in North America in an ideal way," says Ulrich Lehner, Chairman of the Management Board of Henkel KgaA. "We now gain an important position in the U.S. craftsmen segment and achieve an excellent complement to our industrial businesses."

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