Hempel Completes Ostendorf Acquisition
Global coatings supplier Hempel (Kongens Lyngby, Denmark) announced Monday (Oct. 1) that the 65 percent acquisition of German paint manufacturer J.W. Ostendorf is now complete, marking a move that is part of a larger strategy for growth.
The JWO acquisition strengthens Hempel's presence in the decorative paints market; in general, Hempel has historically been better known for its protective and marine offerings. JWO has about 750 employees, according to Hempel, and is based in two locations, in Germany and France. The company makes mainly water-based paints for the retail market, with a focus on environmental friendliness. JWO joins the U.K.-based Crown Paints as part of Hempel's stable of consumer brands.
With the closing of the deal, Hempel will create within its organizational structure a new region known as Decorative Europe. Crown Paints is joining forces with JWO in this new venture.
“JWO is an excellent match for Hempel and Crown Paints. Decorative Europe will be able to present new and exciting value propositions to both existing and new customers,” said Joe Devitt, Group Vice President, Decorative Europe. “Now, we have several routes to market for the brand and private label. We’re unique in terms of our knowledge, competencies and our experiences. Together we’re stronger.”