Jeyes Group, which is backed by Strategic Value Partners, has agreed to sell several home care brands in the UK and Ireland to Henkel. No financial terms were disclosed. Baylor Klein Limited served as financial adviser to the Jeyes’ shareholders on the deal.
London, 8 December 2016 – Strategic Value Partners (“SVPGlobal”) announces today that Henkel and Jeyes Group (“Jeyes” or “the Company”), a portfolio company of affiliates of funds and accounts managed by SVPGlobal (“SVPGlobal Funds”), have entered into a definitive Share Purchase Agreement under which Henkel will acquire selected home care brands in the UK and Ireland, in particular the brands Bloo, Jeyes and Parozone, for an undisclosed value. The transaction was signed and completed on 8 December 2016.
SVPGlobal Funds first invested in Jeyes in 2011 and own, directly or indirectly, a majority of the company’s equity. During the last five years, SVPGlobal has been heavily involved in simplifying and successfully repositioning the Company to a profitable and growing branded and private label manufacturer of household cleaning products in the UK and Irish markets.
Michael Teacher, Chairman of Jeyes Group, said: “Today’s announcement underscores the quality of our brands, and the successful repositioning achieved over the last few years under SVPGlobal Funds’ ownership. The brands that are being sold today all have an exciting future under Henkel’s helm. At our end, we will continue to focus on growing the remaining business.”
Victor Khosla, founder of SVPGlobal, said: “Jeyes is a business with strong potential and quality brands, which has been transformed over the last few years. We are pleased that Henkel will continue to develop the potential of these successful brands.”
Baylor Klein Limited acted as the sole financial advisor to the shareholders of Jeyes in relation to the transaction.
About SVPGlobal (www.svpglobal.com)
SVPGlobal was founded in 2001 by Victor Khosla. With approximately $4.9 billion in assets under management, SVPGlobal is a leading global investment firm with primary offices in Greenwich (CT), London, Frankfurt and Tokyo, focused on distressed and deep value investments. SVPGlobal seeks to create value in its investments through its substantial industry, restructuring and operating experience.
About Jeyes Group (www.jeyes.com)
Founded in 1877, and a Royal Warrant holder since 1896, Jeyes is a UK based FMCG company focused on manufacturing and distributing home and garden specialist cleaning products with iconic brands such as Jeyes, Parozone, Bloo and Easy, as well as certain retailers’ brands.
About Henkel (www.henkel.com)
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 2015, Henkel reported sales of 18.1 billion euros, adjusted operating profit of 2.9 billion euros. Its three top brands, Persil (detergent), Schwarzkopf (hair care) and Loctite (adhesive) generated more than 6 billion euros in combined sales.
Henkel employs around 50,000 people globally – a passionate and highly diverse team, united by a strong company culture, a common purpose to create sustainable value, and shared values. As a recognized leader in sustainability, Henkel holds top positions in many international indices and rankings. Henkel’s preferred shares are listed in the German stock index DAX. For more information, please visit www.henkel.com