AkzoNobel Acquires Spanish Decorative Paints Business

MONDAY, OCTOBER 26, 2020


Global coatings company AkzoNobel recently announced that it has agreed to acquire the decorative paints business of Spain’s Industrias Titan S.A.U.

AkzoNobel says that the move aims to further grow in Europe with Titan’s shared commitment to sustainable product innovation.

“The Spanish market has strong growth potential, and this is an excellent opportunity for us to reinforce our position in the region,” says AkzoNobel CEO Thierry Vanlancker. “The acquisition will enable us to better serve our customers and provides added momentum, while also offering further proof of us being the reference in paints and coatings in Europe.

“The fact that a significant part of Titan’s portfolio has been awarded the European Ecological label also offers exciting possibilities for combining our technologies and expertise, which will result in us developing better and more sustainable products.”

Alberto and Joaquin Folch-Rusiñol, Industrias Titan S.A.U administrators, also commented on the deal, saying: “We’re delighted to hand over Titan's decorative paints business to a global leader like AkzoNobel. We’re confident they will care for Titan's legacy in the same way the family has done for over 100 years.”

Financial terms of the deal were not disclosed, and the agreement is subject to regulatory approval, which is expected before the end of Q1 2021.

   

Tagged categories: Acquisitions; AkzoNobel; Business matters; EMEA (Europe, Middle East and Africa); EU; Good Technical Practice

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