Vestar Capital Partners completes $3.6 Billion Sale of Sun Products to Henkel
NEW YORK, NY – September 2, 2016 – Vestar Capital Partners announced today that it has completed the sale of The Sun Products Corporation to Henkel Consumer Goods Inc., a subsidiary of Henkel AG & Co. KGaA. The transaction, which was previously announced on June 24, 2016, is valued at $3.6 billion.
Sun Products, created by Vestar Capital in 2008 through the acquisition by Huish Detergents of Unilever's North American Fabric Care Brands, makes and markets laundry and household brands, such as all, Sun, Wisk, Snuggle, and Sunlight. The company also develops and manufactures laundry and dish care brands for leading retailers in North America. In fiscal 2015, the company generated sales of approximately $1.6 billion in the U.S. and Canada.
Morgan Stanley & Co. LLC acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Sun Products.
Other recent announcements from Vestar include the recent signing of a definitive agreement to sell Vestar V portfolio company Press Ganey Holdings (NYSE:PGND), a healthcare performance improvement company, to an affiliate of EQT Partners for $40.50 per share or approximately $2.35 billion of enterprise value. The transaction is expected to close in the fourth quarter of 2016. In addition, Vestar recently acquired Mobile Technologies Inc., a global leader in mobile device security and display technologies. Other 2016 transactions include the sale of a majority stake in The StayWell Company LLC to Healthcare Services & Solutions, LLC, a wholly owned subsidiary of Merck & Co., Inc., and the completion of the previously announced merger of Triton Container with TAL International.
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