World-leading coatings manufacturer Hempel has signed a purchase agreement for the acquisition of Farrow & Ball, a luxury decorative paint and wallpaper company with an annual turnover of over EUR 100 million.
“Farrow & Ball is an iconic, luxury, decorative paint and wallpaper company. It is used by consumers, designers and cultural institutions around the world – all who have a passion for rich colours in an eco-friendly paint. I am very proud to welcome our new colleagues to the Hempel family. Together we will ensure that Farrow & Ball continues its strong growth journey,” says Hempel Group President & CEO Lars Petersson.
Hempel is taking the next, large step to double its revenue to EUR 3 billion by 2025. The acquisition is a good strategic match, supporting Hempel’s growth ambitions within the decorative segment.
“I am proud that we have already taken the next step on our journey to double our business. The addition of Farrow & Ball to our branded portfolio is another proof point that we are going for leadership positions in key segments and geographies,” Lars Petersson concludes.
With Hempel’s strong global presence and long-term trade credentials, the intention is to grow and expand Farrow & Ball globally.
“We are looking forward to taking our growth journey to the next level as part of the Hempel Group with whom we share strong sustainability principles. As part of the Hempel Group, we have an exciting opportunity to extend our brand in new markets through a strong global distribution network and longstanding trade relationships,” says Anthony Davey, CEO of Farrow & Ball.
Hempel today announced that it has agreed to acquire Farrow & Ball from the Private Equity Group of Ares Management Corporation, a leading global alternative investment manager. The transaction is subject to customary regulatory approval and is expected to close in the second half of 2021.
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About Hempel As a world-leading supplier of trusted coating solutions, Hempel is a global company with strong values, working with customers in the decorative, marine, infrastructure and energy industries. Hempel factories, R&D centres and stock points are established in every region.
Hempel’s paints and coatings protect and beautify buildings, infrastructure and other assets, and play an essential role in our customers’ businesses. They help minimise maintenance costs, im-prove aesthetics and increase energy efficiency.
At Hempel, our purpose is to shape a brighter future with sustainable coating solutions. We firmly believe that we will succeed as a business only if we place sustainability at our heart. Not only is it the right thing to do, it will strengthen our competitive position, make ourselves more resilient and reduce our risk.
Hempel was founded in Copenhagen, Denmark in 1915. It is proudly owned by the Hempel Foundation, which ensures a solid economic base for the Hempel Group and supports cultural, social, humanitarian and scientific purposes around the world.
About Farrow & Ball
Based in Dorset, England, since 1946, Farrow & Ball is dedicated to creating eco-friendly paint and wallpaper using only the finest ingredients and richest pigments. The result is a directional palette of paint colours with an extraordinary response to light and artisanal wallpapers with a tactile finish, uniquely achieved by printing paint on paper. Together, they transform homes of all kinds, inside and out, all over the world.
From the signature chalky matt of Estate Emulsion to the durability of washable Modern Emulsion, each high-performance finish is crafted with a blend of up to five pigments and an eco-friendly water base, creating an extraordinary depth of colour, a beautiful finish, and a product that’s safer for your world and all who share it.
Between its eco-friendly formulas, recyclable materials, responsibly sourced ingredients, and sustainable business practices, Farrow & Ball is committed to reducing its impact on the earth without compromising on quality.