AkzoNobel reached an agreement with The Sherwin-Williams Company to acquire its Chinese Decorative Paints business, which includes the Huarun brand.
Completion is subject to regulatory approvals and is expected in the second half of 2023.
The business, known as the Chinese Architectural Paint business within Sherwin-Williams, has an annual revenue of about €100 million and employs around 300 people.
“Acquiring this business from Sherwin-Williams, and especially their renowned decorative paints brand Huarun, will strongly complement our existing premium-focused Dulux product portfolio,” said Mark Kwok, director, Decorative Paints North Asia.