By Giulia Petroni

Henkel AG & Co. KGaA (HEN.XE) said Monday that it is acquiring Deva Parent Holdings Inc. with the aim of strengthening its professional hair-care portfolio.

Deva Parent Holdings, which is owned by a fund managed by Ares Management Corp. (ARES), owns DevaCurl, a leading professional hair-care business dedicated to curly hair.

The agreement is subject to regulatory approvals, Henkel said.

The German consumer-goods company didn't disclose the financial details of the deal.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

November 11, 2019 10:10 ET (15:10 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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