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Henkel Corporation News

Najafi Portfolio Company, Innovative Brands Holdings, LLC, to Acquire Henkel Corporation's Duck, Painter's Mate Green and Easy Liner Brands in U.S. and Canada

PHOENIX, Jan. 14 PRNewswire — Innovative Brands Holdings, LLC announced today its agreement to acquire Henkel Corporation's Duck, Painter's Mate Green and Easy Liner Brands in the US and Canada, which comprise the Do-It-Yourself (DIY) line of office and houseware products. Innovative Brands has also agreed to buy Henkel's Avon, Ohio facility. The sale is expected to close within 60 days.

Innovative Brands Holdings is owned by Phoenix-based private investment firm Najafi Companies, LLC, and focuses on acquiring, repositioning and growing solid consumer brands that no longer fit the strategic direction of larger corporations into long-term sustainable assets.

"We're thrilled that these established and high-quality brands will join our family of products, and are looking forward to nurturing their growth in the marketplace over the next several years," said Innovative Brands Chief Executive Officer and Najafi Partner, Peter Woog. "This acquisition marks a significant expansion for us into the office and houseware products sector, and we're fully committed to ensuring the continued value of these products while exploring new ways to improve them over time and maintain a competitive edge."

"This is an exciting development for us and underscores our vision to invest in brands we're confident can grow and sustain themselves over the long haul," said Jahm Najafi, Chief Executive Officer of Najafi Companies. "We're off to an exhilarating start this year."

Henkel's Avon location, which produces the DIY brands, includes a staff of 350 employees.

"This sale makes perfect sense for our strategic direction, which is to focus on our core brands. We're proud of the achievements of our brands and the employees who worked hard to make them successful," said Julian Colquitt, Henkel's President of Adhesive Technologies, North America. "Innovative Brands Holdings is the right company with the best outlook and capabilities to step in on behalf of these Henkel product lines to ensure their future success in the market."

About Innovative Brands, LLC

Innovative Brands, a fully owned subsidiary of Innovative Brands Holdings, LLC, is a consumer products company focused on acquiring, repositioning, and growing consumer product brands with solid brand equity, positive cash flow and strong distribution. The Company acquires brands that no longer fit the strategic direction of their large corporate owners. The Company enhances brands within its portfolio through an "entrepreneurial branding" approach which marries the discipline and strategy commonly employed by large companies with the spirit and tactics of an entrepreneur. Innovative Brands currently manages and markets the Pert Plus and Sure brands in the United States, Canada, Puerto Rico and the Caribbean.

About Najafi Companies

Najafi Companies is a private investment firm based in Phoenix, Arizona. The firm makes highly-selective investments up to $2.5 billion in size in companies with strong management teams across a variety of industries, and often in industries out of popular favor. The firm takes a long-term view on its investments and focuses its efforts to create value through growth and superior performance. Najafi Companies funds investments with its principals' capital, not through a fund. Free from the restrictions of a fund, the firm is able to move quickly and decisively when investing, and with no requirements to return capital to outside partners, Najafi Companies is able to make investments that create maximum value for the long term. For more information about Najafi Companies, visit www.najafi.com.

About Henkel

For more than 130 years, Henkel has been a leader with brands and technologies that make people's lives easier, better and more beautiful. Henkel operates in three business areas - Home Care, Personal Care, and Adhesives Technologies - and ranks among the Fortune Global 500 companies. In fiscal 2006, Henkel generated sales of 12.740 billion euros and operating profit of 1,298 million euros. Henkel's 52,000 employees worldwide are dedicated to fulfilling its corporate claim, "A Brand like a Friend," and ensuring that people in more than 125 countries can trust in brands and technologies from Henkel.

SOURCE Najafi Companies, LLC

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