True North Advises Summit Brands in Acquisition of Zout® & Fels-Naptha® Brands from Henkel
FORT WAYNE, INDIANA - Summit Brands announces the company's recent acquisition of the Zout® and Fels-Naptha® brands. These brands were previously owned by Henkel, and they join a strong Summit Brands portfolio of other laundry products, including Out White Brite®, Out Pro Wash® and Dryel®.
True North served as the exclusive financial advisor to Summit Brands. This is the seventh transaction completed by Summit Brands with the assistance of True North.
Zout® was developed in the early 1960s as a professional cleaning solution for doctors' and nurses' uniforms. Today, Zout® has been engineered with an advanced triple enzyme formula technology for a wider variety of fabrics and stains. Enzymes are specially designed to help break down specific stain types so that they can be more easily removed in the washer.
Fel-Naptha® is a laundry bar with over 100 years of proven stain-removing experience. Fels-Naptha® is regularly reviewed by social media influencers, touted as a product with one of the longest histories as a household cleaner that is still available and effective today.
Joel Harter, President of Summit Brands, said, "We continue to execute against our strategy to be a leader in the specialty and niche consumer brands market. Zout® and Fels-Naptha® complement a robust existing Summit Brands line-up. These longstanding brands further strengthen our position in the laundry category on the heels of our acquisition of Dryel at-home cleaner earlier this year."
With these acquisitions, Summit Brands significantly grows its laundry business and gains 20 additional retailers with thousands of points of distribution.