The iconic paint and wallpaper manufacturer is to be taken over by the Danish company Hempel in deal rumoured to be worth £500m.
World-leading coatings manufacturer Hempel has signed a purchase agreement for the acquisition of Farrow & Ball, the upmarket British paint and wallpaper company founded in 1946.
“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,” said Hempel Group President & CEO Lars Petersson.
Hempel is seeking to double its revenue to €3billion by 2025. This acquisition is a good strategic match, supporting Hempel’s growth ambitions within the decorative market.
“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 concluded.
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.
The transaction is subject to customary regulatory approval and is expected to close in the second half of 2021.