Henkel Corp. announced today it is selling its Duck, Painter's Mate Green, and Easy Liner brands in the U.S. and Canada to Shurtape Technologies LLC. "The sale fits our strategic direction, which is to focus on our core adhesives businesses," Julian Colquitt, president of Henkel Adhesive Technologies, North America, said in a statement.
The sale terms include certain worldwide rights to these brands as well as Henkel's facility in Avon, Ohio, where 350 people are employed. Shurtape is based in Hickory, N.C.
"This transaction is a logical step in formalizing a 40-year relationship with Henkel Corp.," Jim Shuford, Shurtape's president and CEO. "The combination of Henkel's strong consumer brands with Shurtape's professional brands and manufacturing base will drive innovation and value for our retail partners."
Henkel noted that its Pritt, Loctite, LePage, Pro-Series, PL, and Polyseamseal brands and their corresponding businesses aren't part of the sale.