German consumer goods giant Henkel, a “First Five” company with major presences in Rocky Hill and Stamford, said Friday it has agreed to acquire a Canadian laundry and home-goods competitor for approximately $92 million.
Ontario-based JemPak, which is in the private-label business, manufactures and distributes store-brand laundry and dish cleaning products for a range of retail stores.
Owned by publicly traded Acasata Enterprises, has previously listed Henkel’s Sunlight, All and Purex brands as competitors.
Henkel said the deal would further expand its North American market position. The company has its North American headquarters in Rocky Hill, and moved its consumer goods headquarters from Arizona to Stamford last year, for which it could receive up to $25 million in incentives from the Department of Economic and Community Development. JemPak would fall within the Stamford unit.
JemPak, which has 140 employees and operates two manufacturing sites, reported approximately $70 million in sales in fiscal year 2017.
