Henkel Divests Retailer Brands Business
Henkel is selling its retailer brands business in North America, which includes detergent, fabric finisher and dishwashing categories, as part of its larger portfolio optimization strategy.
The consumer goods company signed an agreement to sell the business to an affiliate of First Quality Enterprises, a privately owned manufacturer that produces private-label products and is based in Great Neck, New York.
Henkel’s retailer brands business has been identified as non-core activity within its consumer brands business unit, according to a company statement, given the limited ability to leverage synergies across the consumer brands platform and lack of future strategic fit.
Henkel said this would be the last major divestment of its portfolio optimization measures that were announced in 2022 and included the merger of the formerly separated consumer businesses.
Wolfgang König, EVP consumer brands at Henkel, said in a statement that a more focused consumer brands portfolio would enable the company to better serve its North American retail partners and consumers.
Terms of the deal weren’t disclosed.
