AkzoNobel announced it has completed the acquisition of the Chinese Decorative Paints business of Sherwin-Williams that had been announced in April. The acquisition will further boost the company’s position in China and will allow the company further market segmentation and reinforce its position outside of the premium segment.
The business has an annual revenue of approximately €100 million ($110.4 million) and employs around 300 people. The transaction includes the Huarun decorative paints brand, which has a long history and is well recognized in China.