海角视频 luxury paint and wallpaper company Farrow & Ball has been sold to a Danish coatings manufacturer in a £500m deal that will see further expansion into international markets.
The Dorset-based business was acquired by Hempel from US private equity firm Ares, which has owned Farrow & Ball since 2014.
The deal is subject to regulatory approval and is expected to close in the second half of 2021.
READ MORE: {}
Farow & Ball, which is known for its unusually-named hues, is based in Wimborne and has an annual turnover of more than €100m (£86m).
Hempel Group president and chief executive Lars Petersson said: “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.”
Hempel said it was planning to double its revenue to €3bn by 2025, and called the acquisition “a good strategic match” that would support its growth ambitions. The Danish firm said it intended to grow and expand Farrow & Ball globally.
Mr Petersson said: “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 leadership positions in key segments and geographies.”
Sign up for more business news straight to your inbox
Stay up to date with our daily newsletter, email breaking news alerts and weekly round-ups. To sign up, find out more and see all of our newsletters, follow the link here
Most Read
Anthony Davey, chief executive of Farrow & Ball, added: “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.”
Hempel was founded in Copenhagen, Denmark, in 1915. It is owned by the Hempel Foundation.