With immediate effect, Wattyl Australia and New Zealand is officially part of world-leading coatings manufacturer Hempel. With the acquisition of Wattyl, Hempel is strengthening its footprint in Australia and New Zealand significantly.
Acquisition agreement
On 18 February 2021, Hempel A/S signed an agreement to acquire paint and coatings manufacturer Wattyl Australia and New Zealand from The Sherwin-Williams Company, the paint and coatings company headquartered in the United States.
Hempel received formal customary approval from the relevant authorities in Australia and New Zealand and the acquisition was closed on 31 March. Wattyl is officially a part of the Hempel Group.
Strategic fit
We will create a strong platform for growth and leverage our knowledge, expertise, and market strengths"
“I am very happy to welcome Wattyl and 750 new colleagues to the Hempel family today. We share many similarities, which makes the acquisition a perfect strategic fit."
"United, we will create a strong platform for continuous growth and leverage our knowledge, expertise, and market strengths to remain a trusted partner of our customers in Australia and New Zealand,” says Lars Petersson, CEO of Hempel. The acquisition is part of Hempel’s ambition to double its revenue to EUR 3 billion by 2025 as outlined in its Double Impact strategy.
Footprint in Australia and New Zealand
“We have taken the first major step on our growth journey, which will see us build leadership positions in chosen geographies and segments."
"With Wattyl as part of the Hempel Group, we are gaining a strong footprint in Australia and New Zealand, while pursuing our strategic ambitions for the Decorative, Infrastructure, and Energy segments in our South & East Asia region,” Lars Petersson concludes. Wattyl has an annual turnover of EUR 150 million and has been a household name in Australia and New Zealand for more than 100 years.
