Speaking of Consolidation: PPG Seeks to Purchase AkzoNobel
In my last post I explained how Valspar wood coatings may remain “independent” of Sherwin-Williams’ attempt at consolidation for a while. But there’s a much bigger consolidation being attempted by PPG. It’s trying to buy AkzoNobel.
PPG is headquartered in Pittsburgh and owns paint and finish brands including Olympic, Glidden, Sico, Dulux and its own PPG brand. AkzoNobel is headquartered in Holland and owns paint and finish brands including Chemcraft, Devoe, Interlux, Sadolin, Sikkens and Dulux Trade.
So far AkzoNobel has resisted the takeover. If PPG succeeds, the resulting company together with Sherwin-Williams will be the two largest coatings companies in the world.
– Bob Flexner
Read more about the story on Bloomburg’s site.