German chemicals and consumer products manufacturer Henkel has purchased French sustainable laundry and home care products maker Swania SAS from Milestone Investisseurs and individual shareholders, the firm announced in a recent release.
“In line with our strategic agenda for purposeful growth, we aim to create competitive edge through embedding sustainability into our business,” Henkel CEO Carsten Knobel said in a statement. “Through this acquisition, we are adding attractive brands with a strong sustainability performance and compelling growth opportunities to the portfolio of our Laundry & Home Care business.”
Swania’s portfolio includes the Maison Verte brand of ecological laundry, dishwashing, and home care products, as well as the vegan brand YOU. The company also produces traditional brands like Baranne and O’Cedar. During fiscal year 2020, Swania brought in sales totaling about €40 million.
“The brands are fast-growing, and the company has a very successful innovation track record. This business is a perfect fit for our existing portfolio, adding highly complementary brands and expanding our position in the attractive market for sustainable laundry and home care products,” Bruno Piacenza, executive vice president, Laundry & Home Care for Henkel, said in the release.
Details of the financial terms of the transaction were not disclosed.