Acasta Enterprises to sell JemPak to Henkel for $118 mln
Acasta Enterprises Inc (TSX: AEF) has agreed to sell JemPak Corp, a Concord, Ontario-based maker and distributor of store-brand laundry and dish-cleaning products. Acasta agreed to sell JemPak to the Canadian affiliate of Henkel AG & Co KGaA, a German chemical and consumer goods company, for $118 million on a cash-free and debt-free basis. Acasta acquired the company last year. At the time of the deal's announcement in late 2016, the Canadian special purpose acquisition corporation (SPAC) said it would buy JemPak for about $135 million in cash and stock. The sale's proceeds will be used to pay down Acasta's debt.
11 May 2018•2 mins read
