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AkzoNobel Acquires Decorative Paint Co.

Tuesday, June 19, 2018

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Global coatings manufacturer AkzoNobel announced Monday (June 18) the acquisition of decorative paint and plaster manufacturer Fabryo (Romania), which includes two production facilities and six distribution centers for decorative paints, adhesives and mortars.

The deal also includes one of the largest decorative paints factories in the region, with capacity for further expansion.

AkzoNobel Acquisition

According to Business Review, Fabryo generated 45 million euros ($52 million) in business last year, carrying brands including Savana, APLA and InnenWeiss.

AkzoNobel

Global coatings manufacturer AkzoNobel announced Monday (June 18) the acquisition of decorative paint and plaster manufacturer Fabryo, which includes two production facilities and six distribution centers for decorative paints, adhesives and mortars.

"This acquisition provides AkzoNobel with the number one position in a fast growing market and will contribute to delivering our Winning Together: 15 by 20 Strategy,” said AkzoNobel CEO Thierry Vanlancker. “Fabryo has a proven track record when it comes to growth and profitability. 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."

Fabryo-Atlas Corporation owns a production platform for paints, mortars and adhesives in Popesti-Leordeni, Romania.

"We are looking forward to joining AkzoNobel,” said Dragos Militaru, CEO of Fabryo. “We both have passion for paint and we share the same values. Combining our efforts in Romania, building on AkzoNobel's global presence, will enable us to strengthen our leading position."

The transaction is expected to be completed in the second half of 2018, pending regulatory approval. Financial terms were not disclosed.

   

Tagged categories: Acquisitions; AkzoNobel; Business operations; Decorative painting

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