Industry News

SigmaKalon further Reinforces its Presence in the Czech Republic

Published on 2004-11-09. Author : SpecialChem

Amsterdam -- SigmaKalon announced that it has acquired an 80% stake in Triga Color from GIMV Czech and Slovak SME Fund and Mr. Lubomir Jansta. Mr. Lubomir Jansta, a founder of Triga Color, will remain as the General Manager of Triga Color.

With sales of 600 million CZK (18 million €), Brno-based Triga Color is one of the leading distributors of decorative paint and paint-related products in the Czech Republic. The company operates 5 distribution centres and it has more than 50 owned and franchised shops in all parts of the country. The shops trade under names including Dum Barev, Morava Color and AB Color.

In June 2004 SigmaKalon became the sole owner of Primalex, the market leader in wallpaints on the Czech and Slovak markets. SigmaKalon is the largest paint company in Central Europe and is a market leader in the Polish, Hungarian and Slovakian decorative paint markets. It also holds strong and developing positions in the Ukraine and Romania.

"We are delighted to have acquired a controlling interest in the Czech Republic's leading distributor of paint and decorating sundries", said SigmaKalon CEO Pierre-Marie De Leener. "We are happy to further strengthen our presence in Central Europe and in this country in particular."

"We are pleased with the work we have accomplished with Triga's management since December 2000 when the Fund became a financial partner of Triga", said Lud ? k Palata, Director of GIMV Czech Partners Management Company. "Triga was the first and already successful investment for the Fund. Now, we are pleased to see that a reputable market leading company incorporates Triga into its international structures. We believe this is an excellent development for Triga as well as for the Czech paint market."

Lubomir Jansta commented on this change of ownership: "We see this partnership with SigmaKalon, the second largest decorative coatings company in Europe, as a very interesting opportunity to pursue our ambitious program of further growth and development."

Source: SigmaKalon

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