We’re pleased to announce that leading German paint manufacturer J.W. Ostendorf (JWO), including Renaulac (France) and FLT Handel & Service, are now officially part of the Hempel Group, with immediate effect.
Hempel recently received both the German and UK authority’s formal approval to acquire 65 per cent of JWO. We have closed the deal on 27 September 2018. The joint venture is now official.
Henrik Andersen, Group President & CEO, says: “I would like to give a warm welcome to our 750 new colleagues in Hempel. One of the things that has brought us together is the shared passion for serving our customers. We’re nothing without our customers, and we must be everything to our customers. It means a lot to me that our existing and new customers will see us as their closest partner. Having JWO as part of the Hempel family, we’re one step closer to reaching this goal.”
The closing of the deal means that Hempel can now create a new region, known as Decorative Europe. UK-based Crown Paints – already part of the Hempel Group – and JWO join forces in this unique cooperation, which should ensure Hempel continues to grow in both the European and global decorative markets.
Joe Devitt, Group Vice President, Decorative Europe, says: “JWO is an excellent match for Hempel and Crown Paints. Decorative Europe will be able to present new and exciting value propositions to both existing and new customers. Now, we have several routes to market for the brand and private label. We’re unique in terms of our knowledge, competencies and our experiences. Together we’re stronger.”
Joe continues: “By focusing on integration, as well as the alignment of our businesses and synergies, I’m convinced that we’ll create the foundation for a bright future and will lead the global consolidation of the decorative market.”