07.27.23
Amsterdam, the Netherlands
www.akzonobel.com
PUBLIC COMPANY; YEAR ESTABLISHED: 1994
REVENUE: $11.65 billion s (2021: $9.99 billion)
“Acquiring the Chinese Decorative Paints business from Sherwin-Williams will help us to deliver our growth ambitions in tier three to tier five geographical areas in China. This intended acquisition is a strong strategic fit and our current business is best placed to unlock the full potential, thereby offering new opportunities for employees and customers,” said AkzoNobel CEO Greg Poux-Guillaume.
"Acquiring this business from Sherwin-Williams, and especially their renowned decorative paints brand ‘Huarun,’ will strongly complement our existing premium-focused Dulux product portfolio," Mark Kwok, director Decorative Paints North Asia, said. “This will give our customers access to a more diverse and stronger offering. We look forward to welcoming these employees to the AkzoNobel China family and are excited about the opportunities we can achieve together.”
The intended acquisition follows on from a series of recent acquisitions by AkzoNobel across paints and coatings over the last years, including Titan Paints in Spain and Portugal, New Nautical Coatings in the U.S., Grupo Orbis in Latin America and, most recently, Lankwitzer Lackfabrik in Germany.
The acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH strengthens the company’s performance coatings portfolio. The acquired business will complement AkzoNobel’s existing powder coatings offering and expand the range of innovative products the company supplies.
Operating out of Leipzig, Germany, Lankwitzer’s Rims and Wheel business supplies approved products for car manufacturers such as Daimler, Audi, VW, Opel, Fiat and Renault.
The business also has a growing presence in China and operates laboratories in Germany (Leipzig) and Türkiye.
AkzoNobel is to further strengthen its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region. Completion, which is subject to regulatory approvals, is expected during the course of 2023.
Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around €280 million. The transaction includes the Plascon brand, which has more than 100 years of heritage in South Africa. Together with AkzoNobel's Dulux brand, they’re the longest-established paint brands in the region. The intended acquisition also includes automotive and protective coatings, and coatings for wood and coil.
“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth,” said then CEO Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.”
Added Kunishi Mori, Kansai Paint’s president: “We are convinced that AkzoNobel is the best owner as AkzoNobel considers the decorative paints business as a core business and will therefore be able to unlock the full potential of the business, thereby contributing to the development of the African economy."
For Prejay Lalla and Arvind Shekhawat, chief executive officers of KPAL and KPEA (the respective Africa entities being sold by Kansai Paint in this transaction), this agreement is an opportunity to further enhance growth. “We believe that AkzoNobel will be the owner who will elevate the business to the next level as AkzoNobel is willing to invest in ESG, is committed to innovation, workforce development and broader career opportunities as well as the long-term success of its paint businesses in Africa.”
Commenting on the deal, Jan-Piet van Kesteren, managing director of AkzoNobel’s Decorative Paints Europe, Middle East and Africa business, said: “Kansai Paint Africa is a beautiful addition to our existing strong business which spans across nine countries in the region. The acquisition will complement our portfolio of leading positions in attractive markets and world class brands in Africa, while driving growth in relevant emerging markets. It also offers us the unique opportunity to welcome another strong brand with a heritage of more than 100 years and a wide distribution network.”
*The Chinese Decorative Paints business is known within Sherwin-Williams as the Chinese Architectural Paint business.
www.akzonobel.com
PUBLIC COMPANY; YEAR ESTABLISHED: 1994
REVENUE: $11.65 billion s (2021: $9.99 billion)
MARKETS SERVED
Decorative paints; Marine and Protective coatings; Auto and Specialty coatings;
Industrial and Powder coatings
KEY EXECUTIVES:
Greg Poux-Guillaume, CEO and chair of Board of Management and Executive Committee.
Recent Acquisitions
AkzoNobel is to further strengthen its China position after reaching an agreement with Sherwin-Williams to acquire its Chinese Decorative Paints business*. Completion, which is subject to regulatory approvals, is expected in the second half of 2023.
“Acquiring the Chinese Decorative Paints business from Sherwin-Williams will help us to deliver our growth ambitions in tier three to tier five geographical areas in China. This intended acquisition is a strong strategic fit and our current business is best placed to unlock the full potential, thereby offering new opportunities for employees and customers,” said AkzoNobel CEO Greg Poux-Guillaume.
"Acquiring this business from Sherwin-Williams, and especially their renowned decorative paints brand ‘Huarun,’ will strongly complement our existing premium-focused Dulux product portfolio," Mark Kwok, director Decorative Paints North Asia, said. “This will give our customers access to a more diverse and stronger offering. We look forward to welcoming these employees to the AkzoNobel China family and are excited about the opportunities we can achieve together.”
The intended acquisition follows on from a series of recent acquisitions by AkzoNobel across paints and coatings over the last years, including Titan Paints in Spain and Portugal, New Nautical Coatings in the U.S., Grupo Orbis in Latin America and, most recently, Lankwitzer Lackfabrik in Germany.
The acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH strengthens the company’s performance coatings portfolio. The acquired business will complement AkzoNobel’s existing powder coatings offering and expand the range of innovative products the company supplies.
Operating out of Leipzig, Germany, Lankwitzer’s Rims and Wheel business supplies approved products for car manufacturers such as Daimler, Audi, VW, Opel, Fiat and Renault.
The business also has a growing presence in China and operates laboratories in Germany (Leipzig) and Türkiye.
AkzoNobel is to further strengthen its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region. Completion, which is subject to regulatory approvals, is expected during the course of 2023.
Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around €280 million. The transaction includes the Plascon brand, which has more than 100 years of heritage in South Africa. Together with AkzoNobel's Dulux brand, they’re the longest-established paint brands in the region. The intended acquisition also includes automotive and protective coatings, and coatings for wood and coil.
“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth,” said then CEO Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.”
Added Kunishi Mori, Kansai Paint’s president: “We are convinced that AkzoNobel is the best owner as AkzoNobel considers the decorative paints business as a core business and will therefore be able to unlock the full potential of the business, thereby contributing to the development of the African economy."
For Prejay Lalla and Arvind Shekhawat, chief executive officers of KPAL and KPEA (the respective Africa entities being sold by Kansai Paint in this transaction), this agreement is an opportunity to further enhance growth. “We believe that AkzoNobel will be the owner who will elevate the business to the next level as AkzoNobel is willing to invest in ESG, is committed to innovation, workforce development and broader career opportunities as well as the long-term success of its paint businesses in Africa.”
Commenting on the deal, Jan-Piet van Kesteren, managing director of AkzoNobel’s Decorative Paints Europe, Middle East and Africa business, said: “Kansai Paint Africa is a beautiful addition to our existing strong business which spans across nine countries in the region. The acquisition will complement our portfolio of leading positions in attractive markets and world class brands in Africa, while driving growth in relevant emerging markets. It also offers us the unique opportunity to welcome another strong brand with a heritage of more than 100 years and a wide distribution network.”
*The Chinese Decorative Paints business is known within Sherwin-Williams as the Chinese Architectural Paint business.
