Hempel completes the acquisition of Farrow & Ball
Hempel acquires Farrow & Ball from a fund managed by the Private Equity Group of Ares Management Corporation after having met all conditions and requirements. According to the company, Hempel has taken the next, large step to double its revenue to EUR 3 billion by 2025 with the acquisition.
“Today is an exciting day as we happily welcome the iconic, luxury, decorative paint and wallpaper company, Farrow & Ball, to the Hempel family. I am very proud to bid a warm welcome to over 600 new colleagues, and look forward to ensuring together that Farrow & Ball continues its strong growth journey,” says Hempel Group President & CEO, Lars Petersson.
“Next step on our journey to double our business”
“We have now 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,” continues Lars Petersson. “Respecting Farrow & Ball’s unique offering and heritage, we will look to grow and nurture a brand, loved by consumers, designers and cultural institutions around the world – all who have a passion for rich colours in an eco-friendly paint.”