Through its subsidiary DIAL, Germany's HENKEL (turnover of nearly EUR 12 bn in 2004) has made a bolt-on acquisition of several brands of deodorants in the United States (like Right Guard, Soft & Dri, and Dry Idea) from GILLETTE COMPANY for USD 420 mil. The brands recorded sales of about USD 275 mil in 2005, making Henkel the third largest player in the US deodorants market. HENKEL is negotiating the sale of the food business of its US consumer company DIAL, which had sales of around USD 200...