Jun 3, 2023
Henkel plans to continue with acquisitions
Jun 3, 2023
German consumer goods company Henkel is sticking to its goal in terms of acquisitions despite raising interest rates, the company's CEO Carsten Knobel told the German newspaper Rheinische Post on Saturday.
"We have a strong balance sheet, we intend to make further acquisitions," he said, adding that acquisitions would be made in the adhesive business and in the consumer goods area.
Knobel does not see interest rates increases as a problem.
"The return of rising interest rates rather benefits us when competing for acquisition targets because we have the best credit ratings thanks to our very solid financial position."
Henkel's CEO confirmed that the group may in the future buy back its operations in Russia, which were sold for 600 million euros to a consortium of local financial investors.
"We agreed an option to buy back the business within the next ten years as part of the sale," he said, although adding that a ceasefire wouldn't be sufficient for a return.
"For us to buy back our Russian business, the framework conditions and relations with Russia would have to change fundamentally," Knobel said.
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