Under the terms of the deal, Akzo Nobel will acquire nine outlets in Bayern and Baden-Württemberg. Wümeg is a major distributor of paint and paint-related products in southern Germany.
“In the context of the European decorative coatings market, Germany is of paramount importance to us and we are stepping up our efforts to improve our position in this strategic market,” said Rudy van der Meer, Member of the Akzo Nobel Board of Management responsible for Coatings.
“Earlier this year we acquired three other German distributors, Peters (Berlin), Sonnen (Zwickau) and Kerstin (Soest) and we will not hesitate to continue on this path.”
Added Leif Abildgaard, General Manager of Akzo Nobel’s Decorative Coatings Europe business unit: “The key competence of Akzo Nobel Decorative Coatings is not only the formulation and production of paint, but also distribution.
“By joining forces with, or acquiring, distributors, we will create greater critical mass and a solid platform for profitable growth. It is our firm belief that any distributors we acquire should be treated as customers, as is the case with the independent distributors.”
As a consequence of the recent acquisitions, 350 people have joined Akzo Nobel.
(Released: June 11, 2002)