DuluxGroup to Acquire Sydney-based Porter’s Paints

DuluxGroup announced the proposed acquisition of the Sydney-based Porter’s Paints business. The acquisition is subject to ACCC clearance and some remaining conditions, including final due diligence.

“The addition of Porter’s to our portfolio of iconic brands will broaden our product offering within the architectural and decorative paints market,” said DuluxGroup managing director Patrick Houlihan.  “We will retain the unique character and essence of Porter’s as a premium, design focussed brand while leveraging DuluxGroup’s capability, particularly in the area of sales and marketing,” said MrHoulihan.

Porter’s founder and sole owner, Peter Lewis, will continue to play a role in the growth of the business and will be employed by DuluxGroup to help with the creative direction and development of the Porter’s brand. Lewis said he was pleased that the Porter’s brand was joining such an iconic Australian company.

“I’m incredibly proud of Porter’s and its rich heritage. We’ve created something of high quality that has a unique place in the minds of architects and professional decorators with an eye for superior finish and design. I’m pleased to see it join DuluxGroup who will protect the character of the brand and grow it,” he said. The purchase price is not of a material size in the context of DuluxGroup overall and will be fully funded from existing debt facilities. More details regarding the proposed acquisition will be provided at DuluxGroup’s first half results announcement in May.