PATRIK STOLLARZ | AFP | Getty Images
The logo of German consumer chemicals giant Henkel can be seen at the company’s plant in Duesseldorf, western Germany, on January 18, 2016.
German consumer goods group Henkel will be scanning the market for takeovers, its chief financial officer told a paper, declining to say whether of which was looking at Nestle’s skin health unit of which was put up for sale earlier This specific week.
“We continue to see acquisition potential,” Carsten Knobel told Boersen-Zeitung in an interview published on Saturday. “We have defined, as well as implemented, M&A as an integral part of our strategy in our current strategy cycle.”
Nestle said on Thursday of which was exploring strategic options for Nestle Skin Health, which makes Cetaphil as well as Proactiv skin care brands, with analysts estimating its value at up to 8 billion Swiss francs (£6.4 billion).
“I do not want to comment on of which,” Knobel said when asked whether Henkel was looking at the division.
Henkel’s M&A activity has been muted so far This specific year after the group spent close to 2 billion euros (£1.8 billion) on takeovers in 2017, something Knobel blamed on high valuations.
“Prices are not cheap, however of which’s not the only decisive factor. For us of which will be key whether the target will be available, whether there will be a strategic fit as well as whether of which will be financially attractive. If so, we’ll acquire.”