AkzoNobel N.V. has completed the acquisition of 100% of the shares of Industrias Titan S.A.U. (Titan Paints).
As previously announced, AkzoNobel has acquired Spanish paint manufacturer Industrias Titan S.A.U. (Titan Paints), with the aim of strengthening the company’s paints business and footprint in Spain.
The transaction, which is now concluded, includes three production facilities and seven logistics and service centres for decorative paints, including one of the most modern manufacturing plants for water-based paints in Europe in El Prat de Llobregat, near Barcelona.
Titan Paints generated a revenue of around €80 million and counts a relevant presence also in Portugal. The business shares AkzoNobel’s commitment to sustainable product innovation, with much of its portfolio having received recognition for environmental performance.