AkzoNobel Set To Acquire Industrias Titan's Paints Division
Dutch paint company AkzoNobel will acquire Spanish company Industrias Titan's decorative paints business, pending regulatory approvals expected by Q1 2021.
Paint and coating company AkzoNobel (Reading, Pa.) is set to acquire the decorative paints business of Spain’s Industrias Titan S.A.U. (Barcelona, Spain). Completion of the deal is subject to regulatory approvals, but is expected before the end of Q1 2021.
Titan is one of Spain’s best-known brands, and also has a sizable presence in Portugal. The business shares AkzoNobel’s commitment to sustainable product innovation, with much of its portfolio recognized for environmental performance.
“The Spanish market has strong growth potential and this is an excellent opportunity for us to reinforce our position in the region,” AkzoNobel CEO Thierry Vanlancker says. “The fact that a significant part of Titan’s portfolio has been awarded the European Ecological label also offers exciting possibilities for combining our technologies and expertise, which will result in us developing better and more sustainable products.”
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