05.11.21
Hempel signed a purchase agreement for the acquisition of Farrow & Ball, a luxury decorative paint and wallpaper company with an annual turnover of more than €100 million.
“Farrow & Ball is an iconic, luxury, decorative paint and wallpaper company," Hempel Group President and CEO Lars Petersson said. "It is used by consumers, designers and cultural institutions around the world – all who have a passion for rich colors in eco-friendly paint. I am very proud to welcome our new colleagues to the Hempel family. Together we will ensure that Farrow & Ball continues its strong growth journey.
“I am proud that we have already taken the next step on our journey to double our business. The addition of Farrow & Ball to our branded portfolio is another proof point that we are going for leadership positions in key segments and geographies.” Petersson continued.
“We are looking forward to taking our growth journey to the next level as part of the Hempel Group with whom we share strong sustainability principles," Farrow & Ball CEO Anthony Davey added. "As part of the Hempel Group, we have an exciting opportunity to extend our brand in new markets through a strong global distribution network and longstanding trade relationships."
The transaction is subject to customary regulatory approval and is expected to close in the second half of 2021.
