The acquisition will make AkzoNobel the leader in the Romanian decorative paints market.
The transaction includes two production facilities and six distribution centers for decorative paints, adhesives and mortars, including one of the largest decorative paints factories in the region, with capacity for further expansion.
Fabryo generated revenue of around EUR45 million in 2017 and is the only player with both a leading product portfolio for consumers as well as professional segments in the Romanian market, including brands Savana, APLA and InnenWeiss.
“This acquisition provides AkzoNobel with the number one position in a fast growing market. Fabryo has a proven track record when it comes to growth and profitability. We are very happy to add top brands like Savana, APLA and InnenWeiss to our world class portfolio,” said Thierry Vanlancker, CEO of AkzoNobel.
The Dutch group is present in Romania though Akzo Nobel Coatings, with sales of RON43 million in 2016 and a net profit of RON5.2 million.
“We are looking forward to joining AkzoNobel. We both have passion for paint and we share the same values. Combining our efforts in Romania, building on AkzoNobel’s global presence, will enable us to strengthen our leading position,” said Dragos Militaru, CEO of Fabryo.
The planned transaction is expected to be completed in the second half of 2018, subject to regulatory approval.