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AkzoNobel Acquires Spain Subsidiary

Monday, September 24, 2018

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Global coatings firm AkzoNobel (Netherlands) has now furthered its foothold in both the decorative paints and wood care segments in Spain with its most recent deal.

On Sept. 20, the company announced the acquisition of Xylazel S.A., a subsidiary of Madrid-based Pharma Mar S.A.

AkzoNobel

Global coatings firm AkzoNobel (Netherlands) has now furthered its foothold in both the decorative paints and woodcare segments in Spain with its most recent deal.

“We are proud to add the leading brands Xylazel and Oxirite to our portfolio,” said Ruud Joposten, COO of AkzoNobel.

“Xylazel has a 43-year-old heritage on the Spanish market and a leading position in DIY, professional and industrial sectors of wood protection. This will strengthen our position in Spain and will allow us to offer our customers a wider portfolio of innovative and sustainable products.”

According to the company, Xylazel has about 100 employees, with one production facility in Porriño. Revenue for 2017 totaled approximately 20 million euros.

“As a part of our transformative strategy, we continue to focus on leading market positions delivering leading performance,” said Thierry Vanlancker, CEO of AkzoNobel.

“This couples organic growth with strategic bolt-on acquisitions on top of operational excellence and continuous improvement. By acquiring Xylazel, we will be able to further grow our business in the region and strengthen our position as the leading paints and coatings company in Europe.”

Financial terms of the deal were not disclosed.

   

Tagged categories: Acquisitions; AkzoNobel; Business matters; Business operations

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