Cromology Joins DuluxGroup Limited (DGL)
Cromology today announced that its sale to DuluxGroup Limited (DGL) - the market leading decorative paints and coatings company in Australia and New Zealand which is wholly owned by world’s fourth largest and fastest growing paint company Nippon Paint Group (NPG) - is now officially complete.
DuluxGroup has a growing presence in Europe and is responsible for Nippon Paint Group’s ambitious growth plans in decorative paints in Europe and other western markets. It has no association or connection with the owner of the DULUX brand in other parts of the world
including Europe. Backed by the resources, scale and financial strength of the world’s fourth largest and fastest growing paint company, DGL plans to invest in Cromology’s future growth and sees excellent opportunities to further expand on its market leading positions. DGL International Chief Operating Officer Richard Stuckes says they have acquired Cromology with a firm eye on growth.
“We’re about acquiring market leading businesses who already have a strong track record, retaining them and investing in them. Cromology is world class. It has a highly capable management team who have deep European market knowledge and experience, leading premium brands that are household names, excellent manufacturing facilities, broad distribution across key geographies, strong R&D credentials and – above all – plenty of more opportunities for growth,” said Mr Stuckes. “For us, this is about acquiring a sizeable European platform as the base for ongoing growth. We see opportunities in adjacent geographic and related product markets, including through DGL’s broader product range and technology as well as its retail DIY channel expertise. Cromology’s Leadership Team has done a tremendous job building the enterprise and we’re really excited about the potential for Cromology from here as part of DGL, backed by the scale and resources of the world’s number four in NPG,” he said.
Cromology Chairman Pierre Pouletty said: “I’m really proud of everything we have achieved for Cromology. It’s been a privilege to chair this wonderful company, and I look forward to seeing it progress from here with the support of DGL and NPG.
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