mARCH 2012 98 Legal Transactions
www.lawyer-monthly.com DEAL REPORT
FORBO SELLS INDUSTRIAL ADHESIVES ACTIVITIES TO H.B. FULLER FOR CHF 370
MILLION H.B. Fuller Company has signed an agreement to purchase the global industrial adhesives business of Forbo Group. The acquisition will enhance H.B. Fuller’s position as a global leader in the adhesives industry. The business to be acquired represents about 80 percent (by revenue) of the Forbo Bonding Systems division of Forbo Group. Projected revenue is approximately $580 million for the fiscal year ending December 31, 2011. The business operates 17 manufacturing facilities in 10 countries and employs more than 1,100 people globally. Projected EBITDA for the business for the 2011 fiscal year is CHF 31 million, or about $35 million at 2011 actual exchange rates. A.T. kearney has worked with H.B. Fuller since early 2011, when it began assisting with their
European complexity optimisation program. H.B. Fuller subsequently enlisted A.T. kearney with due diligence concerning the acquisition of Forbo Bonding Solutions. mr. David Hanfland and mr. Richard Forrest led this effort at A. T. kearney. Both are partners in the firm. mr. Hanfland leads the Americas m&A practice, and mr. Forrest leads the European Energy and Process Industries practice. The complexity of separating Bonding Solutions from Forbo Group and the development of H.B. Fuller’s new organization represent an opportunity to provide new customer solutions and improve operating efficiency. LM
David Hanfland - Partner A.T. Kearney, Inc., 222 West Adams Street, Chicago, IL 60606, United States Email:
david.hanfland@atkearney.com Phone: +1 312 223 6427
Richard Forrest - Partner A.T. Kearney Limited, Lansdowne House Berkeley Square, London, W1J 6ER, United Kingdom Email:
richard.forrest@
atkearney.com Phone: +44 20 7468 8041 DEAL REPORT
PZ CUSSONS ACQUIRES THE FUDGE HAIR CARE BRAND FROM SABRE GROUP FOR £25.5M
PZ Cussons Plc, a leading consumer products group in Europe, Asia and Africa, announces the exchange of contracts for the acquisition through its beauty division of the Fudge hair care brand from Australian-based Sabre Group. The brand and associated inventory are being acquired for a consideration of £25.5m in
cash with completion expected by the end of January following the satisfaction of certain reg- ulatory obligations. Established in 1991, Fudge is a leading premium hair care brand, sold predominantly through
salon distribution in the Uk, Australia and New Zealand. It is best known for its styling range including the iconic ‘Hair Shaper’ product. Alex kanellis, Chief Executive of PZ Cussons Plc, said: “The acquisition of Fudge further
investment opportunities as they arise.” michelle Feeney, Chief Executive of PZ Cussons Beauty, said: “We are delighted to be acquiring such a young, vibrant brand and I am very excited about its prospects and untapped potential. Fudge is a natural fit for our portfolio as we continue to bring well-loved brands back to the forefront and make beauty accessible to all.” LM
Mike Lyons - VPro Lawyers - Australia
Telephone: 61-2-9300 0600 Facsimile: 61-2-9300 0601 Mobile: 0412 889 252
mike@vpro.com.au www.vpro.com.au
strengthens our newly formed beauty division and broadens its category participation. The geographic and distribution footprint of Fudge is a perfect fit with the current brand portfolio and we see further opportunity to develop the brand’s international potential. Following this acquisition our balance sheet remains strong giving us flexibility for further
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