Akzo Nobel to acquire coatings distributor

Citation

(2004), "Akzo Nobel to acquire coatings distributor", Pigment & Resin Technology, Vol. 33 No. 5. https://doi.org/10.1108/prt.2004.12933eab.025

Akzo Nobel to acquire coatings distributor

Akzo Nobel to acquire coatings distributor

Akzo Nobel’s decorative coatings business announced an agreement to acquire Timpe & Mock, reported to be the second-largest architectural-paint wholesaler in Germany. Financial terms were not disclosed, and completion of the purchase is subject to regulatory approvals.

Timpe & Mock operates 20 outlets in northern Germany and specializes in supplying the professional trade and paint sector and DIY retail outlets, Akzo Nobel said. The company has annual sales of around EUR 125 million.

Rudy van der Meer, the member of Akzo Nobel’s Board of Management responsible for coatings, said the acquisition “is a major step in our strategy to increase our presence in Germany, the largest coatings market in Europe.”