Hempel has signed an agreement to acquire 65 per cent of one of the leading manufacturers of decorative paint in Germany, J.W. Ostendorf (JWO).
Hempel recently received the UK authority’s formal approval and closed on 27 September 2018. The joint venture is now official.
The closing of the deal means that Hempel can now create a new region, known as Decorative Europe. Blackburn-based Crown Paints, already part of the Hempel Group, and JWO join forces in this unique cooperation, which should ensure Hempel continues to grow in both the European and global decorative markets.
Henrik Andersen, Group President & CEO of Hempel, said: “Decorative Europe will present new and exciting value propositions to both existing and new customers. We now have several routes to market for the brand and private label. We’re unique in terms of our knowledge, competencies and experience. I’m convinced that we’ll create the foundation for a bright future. In the long run, we’ll be able to drive the consolidation of the decorative paint market globally.”
One of the things that brought Hempel and JWO together is a shared passion for paint and serving customers.
“We’re nothing without our customers, and we must be everything to our customers. It means a lot to me that our existing and new customers will see us as their closest partner. Having JWO as part of the Hempel Group, we’re one step closer to reaching this goal,” Henrik Andersen concluded
