Multinational AkzoNobel announced that it has completed the acquisition of Sherwin-Williams’ Chinese decorative paints business. The purchase will further boost the company’s position in China while enabling further market segmentation and strengthening its position outside the premium segment.
AkzoNobel added: “We deliver the innovative, sustainable paints and coatings that our customers, communities and the environment increasingly rely on. Our portfolio of world-class brands, including Dulux, International, Sikkens and Interpon, is trusted by customers around the world. We are active in more than 150 countries and have set our sights on becoming the global leader in the industry. It’s what you would expect from a pioneering paint company that is committed to science-based goals and is taking genuine action to address globally relevant challenges and protect future generations.”
The business has annual revenues of approximately 100 million euros and employs some 300 people. The transaction includes the well-known Huarun brand of decorative paints, which has a long history and is well recognized in China. Note that news of the acquisition was first announced in April 2023.