TAGS: Architectural Coatings
Hempel announces the signing of an agreement to divest its J.W. Ostendorf and Renaulac business in France and Germany to Fidelium Partners, subject to relevant approvals. Hempel is a supplier of paint and coatings.
Strategic Focus on Growing Decorative Business
The sale of Hempel’s predominantly private label business marks the next step on its ambitious growth strategy and brings strategic focus on growing the branded business in its decorative customer segment.
Hempel acquired the predominantly private label business, J.W. Ostendorf and Renaulac, in 2018. Since then, Hempel has built a portfolio of decorative brands through further acquisitions. This now make up the majority of Hempel’s decorative segment. It comprise Farrow & Ball, Crown Paints, Hempel and Wattyl.
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In pursuit of achieving Hempel’s ambitious double impact strategy, we have made the strategic decision to focus on our full-service Deco brands within our Decorative segment,” said Ana Henriques, executive vice president and head of Decorative at Hempel A/S.
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The consequence of that focus is the sale of J.W. Ostendorf and Renaulac. In Fidelium Partners, we have found a committed new prospective owner with a long-term interest in growing the business. We believe that we have found a good new home for our around 500 colleagues from J.W. Ostendorf and Renaulac,” added Henriques.
The sale is expected to be completed in Q3 2024, pending relevant approvals. Transactional details will remain confidential, according to the terms of the purchase agreement.
Source: Hempel