Paris (ots/PRNewswire) - 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
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.
DGL International Chief Operating Officer Richard Stuckes says they
have acquired Cromology with a firm eye on growth.
"We're about acquiring market leading businesses who already have a
strong track record, retaining them and investing in them. Cromology
is world class. It has a highly capable management team who have deep
European market knowledge and experience, leading premium brands that
are household names, excellent manufacturing facilities, broad
distribution across key geographies, strong R&D credentials and –
above all – plenty of more opportunities for growth," said Mr
"For us, this is about acquiring a sizeable European platform as the
base for ongoing growth. We see opportunities in adjacent geographic
and related product markets, including through DGL's broader product
range and technology as well as its retail DIY channel expertise.
"Cromology's Leadership Team has done a tremendous job building the
enterprise and we're really excited about the potential for Cromology
from here as part of DGL, backed by the scale and resources of the
world's number four in NPG," he said.
Cromology Chairman Pierre Pouletty said: "I'm really proud of
everything we have achieved for Cromology. It's been a privilege to
chair this wonderful company, and I look forward to seeing it
progress from here with the support of DGL and NPG. "
Cromology CEO Loïc Derrien said: "Cromology associates are looking
forward joining the DGL-Nippon Paint family. Today, we are opening a
new chapter of Cromology's transformation with a strong focus on
growth. Being part of the fourth largest paint company in the world
will bring tremendous opportunities to all of us. We will leverage
DLG-NPG' technologies and know-how to the benefit of our customers
while offering new opportunity for growth to our suppliers. Cromology
associates will be exposed to new professional and personal
As part of DGL, Cromology will be empowered to grow autonomously
while benefiting from access to the Nippon Paint Group's global
scale, technologies, capabilities and extensive capital resources. In
* Cromology will become DGL's Western European hub for decorative
paints and coatings and ETICs as well as DGL's platform for its
further expansion to adjacent markets.
* Cromology's well recognised and market leading brands will be
retained and further developed with product offering expanded to
take advantage of DGL/NPG product range and technology.
* Existing Cromology management and staff will be retained to lead
the company's growth and transformation.
* Cromology, with its impressive innovation capability, will become
a valuable part of NPG's 3,000 strong global R&D community
enabling Cromology to benefit from shared technical expertise &
insights while retaining complete R&D autonomy.
* Cromology's manufacturing and supply chain footprint will be
retained and expanded over time.
Media contact: Christèle Lion, Cromology Communications Director
About DuluxGroup and Nippon Paint Group
DuluxGroup Limited (www.duluxgroup.com.au), Australia and New
Zealand's leading paints & coatings company, was founded in 1918. It
has app. 4,000 employees globally, generating revenue of EUR 1.3 B
(2020) and has been wholly owned by Nippon Paint Group (NPG:
since 2019. NPG is the
world's fourth largest paint company and the largest in Asia. Founded
in 1881, NPG has more than 34,000 employees across more than 30
countries & regions with annual sales of approximately EUR 6 billion.
DuluxGroup owns the DULUX paint brand in Australia, New Zealand and
Papua New Guinea. It has no association or connection with the owner
of the DULUX brand in other parts of the world including Europe.
With more than 3,000 employees, 5 research laboratories, 9 production
sites and 7 logistics platforms, more than 390 integrated Points of
Sales and its partners Independent & Builders' Merchants, Major DIY
Retailers and Digital pure players, Cromology designs, manufactures
and distributes a wide range of paints and other decorative products
for professionals and DIY users. Cromology distributes its products
in 8 countries (Belgium, France, Italy, Luxembourg, Morocco,
Portugal, Spain and Switzerland).
Throughout its 270 years of history, Cromology has acquired a
recognized unrivaled expertise in the field of decorative paints.
Cromology's commercial brands stand for its professionalism, its
technical and aesthetic know-how and its capacity for innovation (20%
of our revenue was generated with products released in the last three
Thanks to a high-value customer experience and quality products
offering the best value for money, Cromology aims to develop its
presence in the decorative painting industry in Europe, while doing
the most to minimize its environmental footprint. For more
information about Cromology, visit www.cromology.com.
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