AkzoNobel NV (AKZA; AKZOY) has acquired Xylazel SA (Xylazel), a 100 percent subsidiary of Pharma Mar SA (PHM).
With this acquisition AkzoNobel strengthens its business and becomes a leader in the decorative paints market in Spain. It also means the company is now the leader in the country’s woodcare segment and has strengthened its position in metal care. The transaction marks the 45-year anniversary of AkzoNobel on the Spanish market.
Xylazel has about 100 employees, with one production facility in Porrino. Revenue for 2017 totalled approximately €20 million.
“As a part of our transformative strategy, we continue to focus on leading market positions delivering leading performance. This couples organic growth with strategic bolt-on acquisitions on top of operational excellence and continuous improvement. By acquiring Xylazel, we will be able to further grow our business in the region and strengthen our position as the leading paints and coatings company in Europe,” said Thierry Vanlancker, CEO of AkzoNobel.
AkzoNobel NV (AKZA; AKZOY) has acquired Xylazel SA (Xylazel), a 100 percent subsidiary of Pharma Mar SA (PHM).
With this acquisition AkzoNobel strengthens its business and becomes a leader in the decorative paints market in Spain. It also means the company is now the leader in the country’s woodcare segment and has strengthened its position in metal care. The transaction marks the 45-year anniversary of AkzoNobel on the Spanish market.
Xylazel has about 100 employees, with one production facility in Porrino. Revenue for 2017 totalled approximately €20 million.
“As a part of our transformative strategy, we continue to focus on leading market positions delivering leading performance. This couples organic growth with strategic bolt-on acquisitions on top of operational excellence and continuous improvement. By acquiring Xylazel, we will be able to further grow our business in the region and strengthen our position as the leading paints and coatings company in Europe,” said Thierry Vanlancker, CEO of AkzoNobel.
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