PHI Industrial Acquisitions, the specialist investment fund, has signed a deal to acquire some of Procter & Gamble’s European and Middle Eastern laundry detergent brands as well as the plant at Mataró in Catalonia.
The deal will see the Mataró facility transfer to PHI, which will also take ownership of brands such as Dreft, Gamma and Lang in certain countries. The deal’s financial details will remain confidential. However, Alexander Wit, the Managing Partner of PHI, which acquired Henkel’s Spanish bleach production plant two years ago, believes the company is now positioned to be a new force in the European homecare market.
“We are delighted to have worked with Procter & Gamble, a company we have long admired, on this deal that allows us to bring our bleach and dry laundry operations under the same roof to become a major competitor in the homecare markets of Europe and the Middle East.
The jewel in this acquisition is the transfer of Procter & Gamble’s manufacturing plant at Mataró in Spain, along with its employees. This facility will become the European base for our homecare business and will manufacture both the brands acquired by PHI and other products.”
Under the deal PHI will continue to supply Procter & Gamble with brands manufactured at Mataró until they transition to the company’s supply network. Employees will retain their existing terms and conditions. Alexander Wit continued:
“Our success as an entrepreneurial investor lies not just in the careful selection of acquisitions and the subsequent collaborative management and growth of these companies, but primarily in our focus on people. We are delighted to welcome our new colleagues today. They join a company determined to grow and determined to give them an exciting future.”
The deal is the latest in a string of acquisitions of manufacturing, industrial and service
companies by the Madrid and Barcelona based company, consolidating its position as a strong partner for multinationals such as Procter & Gamble.