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Henkel Sells 3 Brands to Shurtape

Wednesday, June 17, 2009

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Henkel Corporation has announced the sale of its business conducted under the Duck, Painter’s Mate Green and Easy Liner brands in the U.S. and Canada to Shurtape Technologies LLC or one of Shurtape’s affiliates. Shurtape, based in Hickory, N.C., has been a long-term supplier to Henkel.

The brands sold are the do-it-yourself (DIY) line of tapes, office and houseware products, including Duck brand duct tape and stationery, mailing and shipping, and kitchen and bath products. Included in the sale are certain worldwide rights to these brands as well as Henkel’s facility in Avon, Ohio.

“This sale fits our strategic direction, which is to focus on our core adhesives businesses. We’re proud of the achievements of these brands and the dedicated employees who have worked hard to make them successful,” Julian Colquitt, president of Henkel Adhesive Technologies, North America, said in a statement June 2.

“This transaction is a logical step in formalizing a 40-year relationship with Henkel Corporation. The combination of Henkel’s strong consumer brands with Shurtape’s professional brands and manufacturing base will drive innovation and value for our retail partners,” said Jim Shuford, President & CEO, Shurtape Technologies LLC.

Henkel’s Pritt, Loctite, LePage, Pro-Series, PL and Polyseamseal brands and the corresponding construction adhesives, sealants, and general adhesives businesses are not part of this sale.

   

Tagged categories: Acquisitions

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