Expanding presence

Hempel Group, parent company of Crown Paints, has signed an agreement to acquire (contingent on obtaining relevant competition clearances by the German and UK competition authorities) a 65 per cent stake in leading German paint manufacturer J.W. Ostendorf (JWO) in a move to significantly bolster its global decorative business.

JWO is one of Germany’s leading decorative paint manufacturers and is the only private label specialist in Europe. Investing significantly in cutting-edge technology and environmentally friendly production, the North Rhine Westphalia manufacturer is also certified by LGA (derived hygiene standards for paint as for the food industry).

The deal also brings with it the appointment of Joe Devitt, CEO of Crown Paints, as the new top executive in Hempel Decorative Europe. Following closing of the transaction, Joe will be responsible for bringing Crown Paints and JWO together, aligning the businesses, sharing knowledge and expertise and identifying synergies. Whilst both businesses will continue to trade independently, as a decorative business of the Hempel Group they will have a leading position in the European Market.

Hempel Group President & CEO Henrik Andersen says: “With JWO now sitting alongside Crown Paints we have grown our decorative business and sent a signal that we are ready to do more – in Europe and globally. I am confident that the companies will continue to develop and grow the Hempel family’s decorative business in Europe.”