Hempel wins Australian and New Zealand paint manufacturer Wattyl

On April 1, the world-renowned paint supplier Haihong Elderly Group announced that Australian and New Zealand paint manufacturer Wattyl officially joined the world-renowned paint supplier Haihong Elderly Group with immediate effect. After the acquisition of Wattyl, Haihong Elderly will greatly strengthen its business in Australia and New Zealand.

On February 18, 2021, Haihong Senior Group signed an agreement to acquire Wattyl, a leading paint manufacturer in Australia and New Zealand, from Sherwin-Williams, the world's largest paint manufacturer based in the United States.

Haihong Elderly has obtained the customary approval of the Australian and New Zealand authorities, and the acquisition was completed on March 31. Wattyl has officially joined the Haihong Elderly Group.

"Today, I am very happy to welcome Wattyl and 750 new colleagues to the Haihong elderly family. We have many similarities, which makes this acquisition a perfect strategic fit. We will unite and build a strong platform. In order to achieve sustained growth and use our expertise, expertise and market advantages, we will continue to be a trusted partner for customers in Australia and New Zealand." said Lars Petersson, CEO of Haihong Senior.

The acquisition is part of Haihong's ambitious goal of doubling revenue to 3 billion euros by 2025 in the "Double Impact" strategy.

"We have taken the first step in our growth journey, which will allow us to establish a leadership position in our target regions and markets. With Wattyl becoming part of the Haihong Senior Group, we have gained a strong presence in Australia and New Zealand At the same time, it will help Southeast Asia achieve our strategic goals in the decorative paint, infrastructure and energy markets." Lars Petersson concluded.

It is understood that Wattyl has an annual turnover of 150 million Euros. It has a history of more than 100 years in Australia and New Zealand and is a well-known brand.