Acquisitions

AkzoNobel acquires Fabryo

0
1273

AkzoNobel, Dutch manufacturer of paints and coatings, has announced that it has signed an agreement for the acquisition of the Romanian decorative paint company Fabryo Corporation.

The transaction consists of two production plants and six distribution centres for decorative paint, adhesives and plasters, including one of the largest decorative paint factories in the region, with the possibility of further expansion.

The transaction should be completed in the second half of 2018 and is subject to regulatory approval.

«Fabryo’s strong sales and distribution capacity», declares Ruud Joosten, COO of AkzoNobel, «will help us further improve our business in the region, making the most of our resources and skills, and strengthening our position as company leader in the paint and coatings sector in Europe». In 2017, Fabryo’s activity generated about 45 million euros of income and it is the only player with a portfolio of products both for end users and professionals in the Romanian market, including Savana, APLA and InnenWeiss.