German consumer goods group Henkel is ramping up investment in developing countries and hunting for acquisitions in a bid to lift sales over a quarter by 2016 and counter weakening markets in Europe.

The maker of Persil washing powder and Schwarzkopf hair products said yesterday it would invest €2 billion over the next four years, up 40 per cent on 2008-12, and set up seven new research and development centres in countries such as Brazil, South Africa and South Korea to develop products for local consumers.

Henkel said it was aiming for €20 billion of sales by 2016, up from €15.6 billion in 2011, with about 50 per cent coming from emerging markets compared with 44 per cent now.

The group’s last big acquisition was National Starch in early 2008 at a cost of €3.7 billion. – (Reuters)