(Corrects in first paragraph to show Henkel's recent
acquisitions were announced last month, not earlier this month)
FRANKFURT, July 5 German consumer goods group
Henkel may make further acquisitions to bolster its
portfolio of detergents and hair care products after announcing
two deals last month, its finance chief was quoted saying.
"We do not rule out larger takeovers in that area," Carsten
Knobel told German weekly Euro am Sonntag.
Henkel recently struck deals to buy French household cleaner
maker Spotless and three U.S. hair care brands, dipping into a 4
billion euro ($5.5 billion) war chest it had been building over
Knobel ruled out that Henkel could return some of its excess
cash to shareholders, for instance via share buybacks.
"That is currently not an option. Investments in further
development of the company, including acquisitions, remain the
best way to increase value in the interest of shareholders," he
told the paper.
He also said he expects to see similar negative currency
effects in company's second- and third-quarter results as in the
In the first three months of the year, Henkel's sales fell
2.6 percent to 3.93 billion euros, as currency effects shaved
almost 7 percentage points off growth.
"In the short term our ability to offset these negative
effects is limited," Knobel said.
($1 = 0.7331 Euros)
(Reporting by Maria Sheahan; Editing by David Holmes)