“With this agreement, Pravana’s and Nattura’s brands will strengthen their footprint in both the professional haircare and retail markets through Henkel’s leadership within these segments of business. Our brand’s great quality and performance are a perfect fit for the haircare business of Henkel," Steven Goddard, Pravana’s CEO said.
The transaction includes a portfolio of leading brands in Henkel’s core category of Professional Haircare. Major brands in Nattura’s Portfolio are Pravana and Tec Italy. In the fiscal year 2016, the business generated sales of more than 100 million euros.
“This acquisition is part of our strategy to strengthen our position in attractive markets and categories. We will expand our Hair Professional business in Mexico and further leverage our brand portfolio in the US hair professional market," said Henkel CEO Hans Van Bylen.
“They will complete our Hair Professional Colorants core category and will reinforce Henkel’s global No. 3 position in this business. Moreover, this transaction will provide a platform for further growth in the attractive Latin American market," said Pascal Houdayer, Executive Vice President and responsible for Henkel’s Beauty Care business.
The parties agreed to not disclose any financial details of the transaction. The acquisition is subject to customary closing conditions, including regulatory approvals.
Henkel operates globally with a well-balanced and diversified portfolio. The company holds leading positions with its three business units in both industrial and consumer businesses thanks to strong brands, innovations and technologies. Henkel Adhesive Technologies is the global leader in the adhesives market – across all industry segments worldwide. In its Laundry & Home Care and Beauty Care businesses, Henkel holds leading positions in many markets and categories around the world. Founded in 1876, Henkel looks back on more than 140 years of success. In 2016, Henkel reported sales of 18.7 billion euros (around 19.7 billion US dollars), adjusted operating profit of 3.2 billion euros (around 3.4 billion US dollars). Its three top brands, Persil (detergent), Schwarzkopf (hair care) and Loctite (adhesive) generated more than 6 billion euros (around 6.3 billion US dollars) in combined sales. Henkel employs more than 50,000 people globally.
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Originally posted on Salon Today