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PPG to Buy Romanian Firm

Thursday, November 3, 2016

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Looking to increase its presence outside the U.S., PPG has reached an agreement with the Emerging Europe Accession Fund to acquire DEUTEK, a Romanian paint and architectural coatings maker.

Terms of the deal, announced Tuesday (Nov. 1), were not disclosed.

The Pittsburgh-based coating company expects the transaction to close in the first quarter of 2017, subject to regulatory approvals and customary closing conditions.

Deutek
screenshot via www.deutek.eu

DEUTEK sells its paints throughout Romania. The deal is expected to close in the first quarter of 2017.

Founded in 1993, DEUTEK manufactures and markets professional and consumer paint brands including OSKAR and Danke!. The company’s products are sold throughout Romania in more than 120 do-it-yourself stores and 3,500 independent retail outlets.

The company, currently owned by the EEAF, reported sales of 30 million euros ($33 million) in 2015.

'Well-managed Business'

“DEUTEK is a well-managed business with a long heritage of excellent customer service and a portfolio of leading, well-recognized brands in Romania,” said Jean-Marie Greindl, PPG senior vice president, global architectural coatings, and president, PPG Europe, Middle East and Africa (EMEA).

“The acquisition adds the fastest-growing paint brands in Romania, where PPG has only a small presence in architectural coatings.”

   

Tagged categories: Acquisitions; Architectural coatings; Business matters; Coatings manufacturers; Coatings Technology; Paint; PPG

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