"ARL ideally complements our existing hair cosmetics business," said vice president of Henkel's cosmetics business sector Uwe Specht. "The acquisition will take Henkel a significant step forward in the hair cosmetics market".
ARL is an innovator in developing and marketing hair cosmetics, offering fashion-led and ethnic hairstyling products. The company has succeeded in generating double-digitpercentage sales growth rates in recent years and is expected to project net salesof €105 million.
"We are delighted to become part of a major, internationally successful company. This development will secure and further enhance the long-term growth perspective of our brands," said ARL CEO Thomas Parr.
Henkel, which announced last month it would buy soap company Dial Corp for €2.3 billion, gave no price for its latest acquisition. The agreement anticipated to be completed early this year is subject to regulatory approval and other customary closing conditions.