Top Ten Acquisitions in the Paint Industry in 2022
In the third year of the epidemic, paint enterprises that can survive the epidemic also lost a circle, but the skinny camel is bigger than the horse. Although the total amount of acquisitions of paint giants has decreased, the number of acquisitions has increased significantly. The main target of the paint industry acquisition in 2022 is the small and beautiful regional leaders and sub sector leaders.
The acquisitions are mostly related to the world paint giants, of which Xuanwei has the largest number of acquisitions, Nippon has the largest amount of acquisitions, and foreign enterprises continue to acquire Chinese paint enterprises
The largest acquisition in 2022 comes from Nippon
On January 21, Nippon announced that its merged subsidiary Dulux Group (Dulux Australia) had completed the acquisition of "Cromology", the fourth largest building paint manufacturer in Europe, at a price of 1.152 billion euros (about 8.3 billion yuan). The acquisition and payment procedures were completed on January 20, 2022. This is the largest acquisition completed by Nippon in 2022, and also the largest acquisition completed by the world coating industry in 2022.
On May 31, Nippon completed the acquisition of DP JUB, a European paint manufacturer, with a transaction price of 199.7 million euros (about 1.432 billion yuan).
On June 2, Nippon turned five Chinese automotive coatings companies into wholly-owned subsidiaries at a total purchase price of 6.7 billion yen (about 344 million yuan) to consolidate and integrate the automotive coatings business in China.
In 2022, Xuanwei will acquire Tu Enterprises most
In 2022, Xuanwei, the world's largest paint company, made six acquisitions. Although the prices of the six acquisitions were not as high as those of Nippon, Xuanwei was the largest paint company in 2022.
On February 9, Xuanwei completed the acquisition of AquaSurTech, further consolidating Xuanwei's position as a leading paint solution provider in the construction product market.
On April 1, Xuanwei completed the acquisition of the European industrial coatings business of Sika, with an annual sales of US $82 million.
On June 9, Xuanwei acquired Gross&PerthunGmbH, a leading manufacturer of tractor coatings in Europe, The company's annual sales volume is 50 million US dollars, and Xuanwei will bring its revenue under its command to inject more advantageous development momentum into its high-performance coatings group.
In July, Xuanwei completed the acquisition of Dur-A-Flex Paint Company. Xuanwei said that this acquisition is conducive to improving the value in the field of resin flooring, and can also provide an integrated high-performance flooring solution to improve customer operating efficiency.
On October 11, it announced the acquisition of Italian well-known wooden paint brand "ICA" Ica, and the annual sales of ICA's business reached 158 million euros.
On November 8, Xuanwei announced the acquisition of SIC Holdings of German Industrial Coatings. The transaction will be completed at the beginning of 2023. SIC Holdings is composed of Oskar Nolte GmbH and Klumpp Coatings GmbH, with an annual sales of 91.5 million euros.
Akzo Nobel consolidates his long-term position in Europe, the United States and Africa.
On April 22, Akzo Nobel completed the acquisition of Grupo Orbis Obis Group, a Colombian paint company, which effectively consolidated Akzo Nobel's long-term position in Latin America.
On June 1, Akzo Nobel will acquire the paint and coating business of Kansai Paint in Africa.
This transaction includes Plascon, a brand with more than 100 years of history in South Africa. Plascon and DuluxPro, a brand owned by Akzo Nobel, are the oldest decorative paint brands in Africa. The acquisition intention also includes automobile and protective coatings, as well as wood paint and coil steel paint.
On December 2, AkzoNobel announced that it had completed the acquisition of the hub liquid coating business of Lankwitzer Lackfabrik GmbH. The acquired business will supplement AkzoNobel's existing powder coating products and expand the range of innovative products provided by the company.
PPG acquisition is only to improve the status of powder coatings
Among the top four paint giants in the world, PPG has the least number of acquisitions in 2022, with only two acquisitions with strong purpose. Both acquisitions are aimed at powder coatings and are intended to strengthen sustainable advantages in the field of powder coatings. PPG aims to generate 40% of its sales from sustainable competitive products by 2025.
On February 7, the coating giant PPG announced that it had signed an agreement to acquire the powder coating business of Arsonsisi, an industrial coating company based in Milan, Italy.
After the completion of this acquisition, PPG was able to expand its powder coating product range in Europe, the Middle East and Africa (EMEA) to include metal bonding powder, which is one of the fastest growing markets for powder coatings, usually used in automobile, electrical appliances and general special finishing industries.
On December 2, PPG announced that it had completed the acquisition of Huangshan Huajia Surface Technology Co., Ltd., a powder coating manufacturer in Huangshan City, Anhui Province, China.
Huangshan Huajia, as the leader of powder coatings in China, will sell 365.59 million tons in 2021, with a sales revenue of 688 million yuan. Huajia is one of the earliest powder coatings manufacturers in China. After the acquisition of Huangshan Huajia, PPG's market share in China's powder coatings has entered the top three.
Kansai ranked the ninth in the world
In the 2022 World Top Ten Paint Enterprises List released by China Foreign Paint Network, Kansai Paint ranks the ninth largest paint enterprise in the world with a comprehensive turnover of 3.269 billion US dollars. In 2022, Kansai Paint will continue to acquire high-quality business, and improve its competitive position in the world paint enterprises.
On November 30, Kansai Coatings announced that its European subsidiary, Kansai Helios Coatings GmbH, had signed a share purchase agreement and decided to acquire all the shares of CWS Lackfabrik GmbH (hereinafter referred to as "CWS Group"), headquartered in D ü ren, Germany. CWS is a well-known powder coatings, liquid and solid synthetic resin manufacturer with more than 150 years of history. The company operates powder coatings and synthetic resin businesses in Europe and the United States.
CWS's annual turnover is about 100 million euros (about 737 million yuan), and the output of powder coatings is about 18000 tons.
On December 9, Kansai Paint signed an asset purchase agreement for the railway coating business of Berger Group. After the completion of the transaction conditions, Kansai Paint will acquire all business assets of Berger Group in the railway coatings sector. Through this acquisition, Kansai Paint will further strengthen its competitive position in the field of railway coatings in Europe and the world.
In order to double the performance strategy, Haihong Old Man furiously collected decorative paint.
On February 10, Haihong Old Man completed the acquisition of Khimji Paints LLC, a coating business unit of Oman Group. This is the first acquisition of Haihong Old Man in the decorative paint field in the Middle East, and also the first acquisition of Haihong Old Man in the decorative paint field in 2022.
In August, Haihong Old Man acquired Paintworld from Australia, which is the second acquisition of Haihong Old Man in the field of decorative paint in 2022.
On September 15, Haihong Old Man announced the acquisition of Cap Couleurs Group's store network in southeast France, which is the third acquisition of Haihong Old Man in the decorative paint field in 2022.
The income of Haihong Old Man will increase to 1.8 billion euros in 2021. In order to realize the strategy of doubling the performance in 2025, Haihong Seniors, who mainly focus on marine ship coatings, will start to purchase the decorative paint business worldwide in 2022 to remedy their weaknesses.
France Oc é inde acquires part of PPG's African business.
On April 1, PPG announced that the company had agreed to divest certain business activities in Senegal, C ô te d'Ivoire, Cameroon, Gabon and Algeria to Oc é inde, an industrial group headquartered in Reunion, France. Oc é inde supplies special materials to PPG.
Olivier Bouin, the current general manager of PPG Africa French overseas and Suriname architectural coatings, will join Oc é inde as the general manager of the African trade architectural coatings market.
"We believe that this change in business model will benefit our customers in Africa," said Pascal Tisseyre, vice president of PPG Architectural Coatings for Europe, the Middle East and Southern Africa. "Both companies look forward to working together to better serve the African market."
In the acquisition and divestiture of this business, the flavor of strategic cooperation seems to be stronger.
India's largest paint enterprise continues to expand
Asian coatings is the largest coatings company in India. In 2022, in the List of World Top Ten Coatings Companies in 2022 released by Chinese and Foreign Coatings Network, Asian coatings ranked the seventh largest coatings company in the world with a comprehensive turnover of 3.731 billion dollars.
On October 26, Asian Paints, India's largest paint company, signed a final agreement to acquire 51% of the shares of Harind Chemicals and Pharmaceuticals Private Limited from Aapex Power and Industries Private Limited, Dr. Swapan Ghosh and others at a price of about 127.5 billion rupees (1.5 million US dollars), provided that the preconditions set in the final document are fulfilled.
It also agreed to acquire 39% of Harind's shares from existing shareholders in a staggered manner over the next five years, provided that certain preconditions are met and financial objectives are achieved. Founded by Dr. Swapan Ghosh, Harind is a special chemical company with nanotechnology as its core, mainly in the field of surface coating and care. Harind has always been a pioneer in the field of nano coatings in India.
Asia Paint is the largest paint company in India.
America's largest independent paint company, Kelly Moore, was acquired
On October 3, Flacks Group of the United States announced the acquisition of Kelly Moore, a leading manufacturer and retailer of high-end coatings and coatings in the United States. The transaction ended Kelly Moore's 76 year independent ownership.
Charles Gassenheimer, Managing Director of Flacks Group, said that this transaction eliminated the major debt burden of Kelly Moore Paint Company, and put the company on the road of growth and expansion.
Founded in San Carlos, California, in 1946, Kelly Moore Paint is one of the largest independent paint companies in the United States, with an annual revenue of more than 400 million dollars (about 2.85 billion yuan).
This acquisition, combined with its existing portfolio company, Pleuger Industries, Germany, is expected to increase the revenue of Flacks Group's vertical industrial business to more than US $1 billion in the next two to three years.
Nande Paint, a century old shop, was acquired by MIPA
In recent years, the COVID-19, supply chain disruption, high and unpredictable raw material prices, and continuous bureaucracy and regulatory upgrading have made it increasingly difficult for small and medium-sized coating enterprises to survive. Even a century old enterprise like South German Paint cannot escape the fate of being acquired.
In July, MIPA Group said that it had acquired S ü ddeutsches Lackwerkzelle (South Germany Paint), further expanding the company's customer base and product portfolio in the field of high-temperature resistant coatings.
MIPA Group, headquartered in Eisenbach, Germany, is a fast-growing medium-sized enterprise, mainly producing various kinds of varnishes and paints. The company has more than 8 production bases in Germany and abroad. For MIPA Group, the acquisition of South German paint business means further expanding the customer base and product portfolio in the field of industrial coatings to ensure the smooth development of the local market.
