AkzoNobel to Buy Sherwin-Williams’ Chinese Architectural Paint Business
In a move to further strengthen its position in China, AkzoNobel has reached an agreement with Sherwin-Williams to acquire its Chinese decorative paints business, known within Sherwin-Williams as the Chinese Architectural Paint business. Completion, which is subject to regulatory approvals, is expected in the second half of 2023.
The business has an annual revenue of about €100 million and employs around 300 people. The transaction includes the Huarun brand, which has a long history and is well recognized in China.