Hempel has signed a purchase agreement for the acquisition of Farrow & Ball, a decorative paint and wallpaper company with an annual turnover of more than EUR 100 million. The transaction is expected to close in the second half of 2021 and is subject to customary closing conditions. Terms of the transaction were not disclosed.
Farrow & Ball products are available worldwide in 60 Farrow & Ball showrooms, more than 1,700 third-party retail locations and through a rapidly growing e-commerce business.
“I am very proud to welcome our new colleagues to the Hempel family,” said Hempel Group President & CEO Lars Petersson. “Together, we will ensure that Farrow & Ball continues its strong growth journey.”
According to Hempel, the acquisition fits the company’s strategy to double its revenue to EUR 3 billion by and 2025 and expand its presence within the decorative segment, expanding Farrow & Ball globally.
“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,” said Anthony Davey, CEO of Farrow & Ball. “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 post Hempel Group to Acquire Farrow & Ball appeared first on American Coatings Association.
from American Coatings Association https://www.paint.org/hempel-group-to-acquire-farrow-ball/
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