Hempel takes over Wattyl in Australia and New Zealand

The Danish coatings manufacturer Hempel has taken over Wattyl, a coatings manufacturer and retailer in Australia and New Zealand. Wattyl operates almost 100 outlets there and has a similar business model to the British Hempel subsidiary Crown Paints. Annual sales are reported as being EUR 150 mio. The Wattyl brand will remain unchanged and will have the phrase "A part of Hempel" added to it. Managing director Matt Crossingham will also be keeping his position. The seller is the US American global market leader Sherwin-Williams.
The takeover is a part of the "Double Impact" strategy with the declared objective of doubling Hempel's sales of currently EUR 1.5 bn within five years. "Doubling our revenue will allow us to double our positive impact by investing in more sustainable coating solutions, innovation and digitalisation," says Lars Petersson, president and CEO of the Hempel Group.