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Don't worry. The Duck stays: Arizona firm buys Henkel Corp.'s Avon facility and its line of office and houseware products.(ACQUISITIONS)(Company overview)
- Article from:
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Inside Business
- Article date:
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March 1, 2008
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Copyright informationCOPYRIGHT 2008 Great Lakes Publishing Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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From Manco to Henkel, and now to Najafi. In January, Phoenix-based Innovative Brands Holdings LLC acquired Henkel Corp.'s Do-It-Yourself (DIY) line of office and houseware products, as well as the 350-employee Avon facility where the line is manufactured.
Originally founded by Jack Kahl as Manco Inc. in 1971, the facility is an Avon business institution and the acquisition marks the second time it has changed hands since Kahl's 2002 retirement.
"This sale makes perfect sense for our strategic direction, which is to focus on our core brands," says Julian Colquitt, Henkel's president of Adhesive Technologies. "We're proud of the achievements of our brands and the ...
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