Posh paint brand Farrow & Ball bought by Danish company in €500m deal
Luxury paint and wallpaper company Farrow & Ball has been bought by Danish coatings manufacturer Hempel, in a deal that values the paint retailer at around €500m.
Hempel bought Farrow & Ball from American private equity group Ares Management Corporation, which reportedly paid £275m for the company in 2014.
Today The Financial Times first reported the latest deal valued Farrow & Ball at €500m.
Hempel, a manufacture based in Denmark that produces paints and coatings for bridges, boats, power stations and homes, said its objective was to take Farrow & Ball global.
“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,” said Hempel Group President & CEO Lars Petersson.
“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.”
Farrow & Ball CEO Anthony Davey added: “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.”