Düsseldorf-based German consumer chemical specialist Henkel said it plans to acquire Novamelt, a privately owned company based at Wehr in southern Germany, to further enhance its competence in the area of hotmelt adhesives.

Financial terms of the acquisition, which is subject to anti-trust approval, are not being disclosed. Closing is subject to anti-trust approval. In addition to its German base, the company with 100 employees has a US production site at High Point, North Carolina, as part of a 51-49 joint venture.

With annual sales of around €50 million in 2014, Novamelt manufactures a wide range of specialty hotmelt adhesives used most widely in self-adhesive labels and tapes. Its UV-curable hotmelts in particular are claimed to withstand even high temperatures and heavily changing weather conditions.

"Targeted investments in complementary leading technologies are an integral part of our global strategy," said Csaba Szendrei, senior vice president, Packaging and Consumer Goods Adhesives at Henkel. "Novamelt's solutions perfectly fit to our existing pressure sensitive adhesives business," he added.

Henkel's Adhesive Technologies business unit reported sales of more than €8 billion in 2014.