Akzo Nobel has entered into an agreement to acquire 100 % of the shares of Fabryo Corporation, a Romanian producer of decorative paints.
Amsterdam/The Netherlands — The transaction includes two production facilities and six distribution centers for decorative paints, adhesives and mortars, including one of the largest decorative paints factories in the region, with capacity for further expansion. Thierry Vanlancker, CEO of Akzo Nobel, said that this acquisition provided his company with the number one position in a fast growing market.
The business generated revenue of around $ 52 million in 2017 and is the only player with both a leading product portfolio for consumers as well as professional segments in the Romanian market, including brands Savana, Apla and Innen Weiss. The planned transaction is expected to be completed in the second half of 2018, subject to regulatory approval.