Cromology today announced that its sale to DuluxGroup Limited (DGL) – the market leading decorative paints and coatings company in Australia and New Zealand which is wholly owned by world’s fourth largest and fastest growing paint company Nippon Paint Group (NPG) – is now officially complete.
The sale follows the announcement in October last year that Cromology’s former owners Wendel Group had entered into an exclusivity agreement with DuluxGroup to complete the sale. This process, inclusive of regulatory approvals and transfer of shares is now complete.
In addition to being Australia and New Zealand’s market leader in decorative paints and coatings, DuluxGroup has a growing presence in Europe and is responsible for Nippon Paint Group’s ambitious growth plans in decorative paints in Europe and other western markets. It has no association or connection with the owner of the DULUX brand in other parts of the world including Europe.
Backed by the resources, scale and financial strength of the world’s fourth largest and fastest growing paint company, DGL plans to invest in Cromology’s future growth and sees excellent opportunities to further expand on its market leading positions.
To read the full press release, please click here.