World-leading coatings manufacturer Hempel has signed a purchase agreement for the acquisi-tion of Farrow & Ball, a luxury decorative paint and wallpaper company with an annual turnover of more than €100M.
"Farrow & Ball is an iconic, luxury, decorative paint and wallpaper company. It is used by con-sumers, designers and cultural institutions around the world – all who have a passion for rich colours in an eco-friendly paint. I am very proud to welcome our new colleagues to the Hempel family. Together we will ensure that Farrow & Ball continues its strong growth journey,” says Hempel Group President & CEO Lars Petersson.
Hempel is taking the next, large step to double its revenue to €3bn by 2025. The acquisition is a good strategic match, supporting Hempel’s growth ambitions within the decorative segment.
"I am proud that we have already taken the next step on our journey to double our business. The addition of Farrow & Ball to our branded portfolio is another proof point that we are going for lead-ership positions in key segments and geographies,” Lars Petersson concludes.
With Hempel’s strong global presence and long-term trade credentials, the intention is to grow and expand Farrow & Ball globally.
"We are looking forward to taking our growth journey to the next level as part of the Hempel Group with whom we share strong sustainability principles. As part of the Hempel Group, we have an exciting opportunity to extend our brand in new markets through a strong global distribution network and longstanding trade relationships,” says Anthony Davey, CEO of Farrow & Ball.
Hempel today announced that it has agreed to acquire Farrow & Ball from the Private Equity Group of Ares Management Corporation, a leading global alternative investment manager. The transaction is subject to customary regulatory approval and is expected to close in the second half of 2021.
