Hempel announces the sale of J.W. Ostendorf and Renaulac as next step on strategic journey
The prospective new owner, Fidelium Partners, would take over the production site in Germany and stores in France, together with around 500 employees and a portfolio of customers.
World-leading supplier of paint and coatings, Hempel announced the signing of an agreement to divest its J.W. Ostendorf and Renaulac business in France and Germany to Fidelium Partners, subject to relevant approvals.
The sale of Hempel’s predominantly private label business marks the next step on its ambitious growth strategy and brings strategic focus on growing the branded business in its Decorative customer segment.
“Strategic decision”
Hempel acquired the predominantly private label business, J.W. Ostendorf and Renaulac, in 2018. Since then, the company has built a portfolio of decorative brands through further acquisitions, which now make up the majority of Hempel’s Decorative segment and comprise Farrow & Ball, Crown Paints, Hempel and Wattyl.
“In pursuit of achieving Hempel’s ambitious Double Impact strategy, we have made the strategic decision to focus on our full-service Deco brands within our Decorative segment,” says Ana Henriques, Executive Vice President and Head of Decorative at Hempel. “The consequence of that focus is the sale of J.W. Ostendorf and Renaulac. In Fidelium Partners, we have found a committed new prospective owner with a long-term interest in growing the business. We believe that we have found a good new home for our around 500 colleagues from J.W. Ostendorf and Renaulac.”
The sale is expected to be completed in Q3 2024, pending relevant approvals.
