AkzoNobel NV has entered into an agreement to acquire 100 percent shares of Fabryo Corporation SRL (Fabryo), becoming the leader in the Romanian decorative paints market.
The transaction includes two production facilities and six distribution centres for decorative paints, adhesives and mortars, including one of the largest decorative paints factories in the region, with capacity for further expansion.
The planned transaction is expected to be completed in the second half of 2018.
The business generated revenue of around €45 million in 2017 and is the only player with both a leading product portfolio for consumers as well as professional segments in the Romanian market, including brands Savana, APLA and InnenWeiss.
“This acquisition provides AkzoNobel with the number one position in a fast-growing market and will contribute to delivering our Winning Together: 15 by 20 Strategy. Fabryo has a proven track record when it comes to growth and profitability. We are very happy to add top brands like Savana, APLA and InnenWeiss to our world-class portfolio and look forward to welcoming our new colleagues to AkzoNobel,” said Thierry Vanlancker, CEO of AkzoNobel.
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