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Henkel To Buy Spotless For $1.28B

Thu, 06/05/2014 - 7:56am

BERLIN (AP) -- Henkel, the German-based maker of Persil laundry detergent and Dial soap, says it is buying French laundry products company Spotless Group in a deal valued at 940 million euros ($1.28 billion).

Henkel AG & Co. KGaA said it signed an agreement Thursday with funds advised by BC Partners to buy all the shares in Spotless Group SAS, based in Neuilly-sur-Seine, France. Spotless' products include laundry sheets, stain removers and fabric dyes.

The deal requires approval from antitrust authorities. Henkel says it should be completed by the first quarter of next year.

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