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June 18, 2018
By: Anthony Locicero
Copy Editor, New York Post
AkzoNobel entered into an agreement to acquire 100 percent of the shares of Fabryo Corporation S.R.L. (Fabryo), becoming the leader in the Romanian decorative paints market. The transaction includes two production facilities and six distribution centers for decorative paints, adhesives and mortars, including one of the largest decorative paints factories in the region, with capacity for further expansion. The business generated revenue of around €45 million in 2017 and is the only player with both a leading product portfolio for consumers as well as professional segments in the Romanian market, including brands Savana, APLA and InnenWeiss. “This acquisition provides AkzoNobel with the No. 1 position in a fast-growing market and will contribute to delivering our Winning Together: 15 by 20 Strategy. Fabryo has a proven track record when it comes to growth and profitability,” AkzoNobel CEO Thierry Vanlacker said. “We are very happy to add top brands like Savana, APLA and InnenWeiss to our world class portfolio and look forward to welcoming our new colleagues to AkzoNobel.” Added AkzoNobel COO Ruud Joosten:”Savana is the No. 1 decorative paints brand among Romanian consumers. The strong sales and distribution capabilities of Fabryo will help us to further improve our business in the region, leveraging our combined resources and expertise, and strengthen our position as the leading paints and coatings company in Europe.” The planned transaction is expected to be completed in the second half of 2018, subject to regulatory approval.
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