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Akzo Nobel completes acquisition of Sheranwei's China decorative paints business

AkzoNobel
115,883
August 14, 2023, 11:44 AM
Akzo Nobel announced the completion of the acquisition of Sherwin-Williams 'China decorative paints business. This acquisition will further strengthen Akzo Nobel's layout and influence in the Chinese market to help consolidate its position in the high-end market while strengthening expansion in other market segments.
The annual sales of the related acquisition business are expected to be approximately 100 million euros and have approximately 300 related employees, including China Resources Paint, a well-known decorative paint brand owned by Schanwei. The brand has been deeply involved in the local market for many years and has been widely recognized.

The acquisition intention was first announced in April 2023.