Akzo Nobel to acquire Swiss Lack

Citation

(2005), "Akzo Nobel to acquire Swiss Lack", Anti-Corrosion Methods and Materials, Vol. 52 No. 6. https://doi.org/10.1108/acmm.2005.12852fab.020

Akzo Nobel to acquire Swiss Lack

Akzo Nobel to acquire Swiss Lack

Akzo Nobel's Decorative Coatings business has initiated the latest phase of its competitive European expansion strategy by signing an agreement to acquire Swiss Lack, Switzerland's leading paint company. The deal – which will see Akzo Nobel become the biggest coatings company in Switzerland – includes taking over Swiss Lack's brand portfolio, as well as its large commercial distribution network. Owing to be completed by the end of 2005, the transaction comes several months after Akzo Nobel strengthened its extensive European market presence with similar acquisitions in Germany (e.g. wholesalers Timpe & Mock), and France.

Based in Reussbühl south of Zurich, Swiss Lack manufactures Switzerland's leading paint brand, Swiss Lack, and had estimated sales in 2004 of e45 million. By taking over the business, Akzo Nobel will significantly increase its current share in the attractive Swiss market.

“The acquisition of Swiss Lack will not only boost the distribution network we already have in Switzerland, but will also more than double our current market share,” added Leif Abildgaard, General Manager of Akzo Nobel's Decorative Coatings Europe business.