Wattyl Australia and New Zealand now officially part of Hempel
With immediate effect, Wattyl Australia and New Zealand is now officially part of coatings manufacturer Hempel. With the acquisition of Wattyl, Hempel aims at strengthening its footprint in Australia and New Zealand significantly.
On 18 February 2021, Hempel signed an agreement to acquire the paint and coatings manufacturer Wattyl Australia and New Zealand from The Sherwin-Williams Company. Hempel received formal customary approval from the relevant authorities in Australia and New Zealand and the acquisition was closed on 31 March. Wattyl is now officially a part of the Hempel Group.
“I am very happy to welcome Wattyl and 750 new colleagues to the Hempel family today. We share many similarities, which makes the acquisition a perfect strategic fit. United, we will create a strong platform for continuous growth and leverage our knowledge, expertise and market strengths to remain a trusted partner of our customers in Australia and New Zealand,” says Lars Petersson, CEO of Hempel.
Annual turnover of EUR 150 million
The acquisition is part of Hempel’s ambition to double its revenue to EUR 3 billion by 2025 as outlined in its Double Impact strategy. According to Hempel, Wattyl has an annual turnover of EUR 150 million and has been a household name in Australia and New Zealand for more than 100 years.
