Dutch AkzoNobel buys paint manufacturer Fabryo from Oresa Ventures

Newsroom 18/06/2018 | 11:46

Dutch group AkzoNobel will take over the decorative paint and plaster manufacturer Fabryo, owned by the Swedish investment fund Oresa Ventures.

Fabryo’s business generated EUR 45 million revenue last year, and includes professional and consumer segments, with brands as Savana, APLA and InnenWeiss. The transaction includes two factories and six distribution centers for decorative paints, adhesives and mortars, including one of the largest production facilities in the region.

“This acquisition gives AkzoNobel the leading position in a rapidly growing market. Fabryo made record increases in both revenue and profitability. We are pleased to add top brands like Savana, APLA and InnenWeiss to our portfolio, “said Thierry Vanlancker, CEO of AkzoNobel.

The Dutch group, in Romania through Akzo Nobel Coatings, had a turnover of RON 43 million in 2016, a net profit of RON 5.2 million and 17 employees and rumors about taking over a paint producer existed since 2010.

Fabryo-Atlas Corporation, which sells almost all production on local market, owns a production platform for paints, mortars and adhesives in Popesti-Leordeni and another thermal insulation product in Tunari, Ilfov County and it was founded more than 20 years ago by entrepreneur Daniel Guzu.

In 2006, Oresa Ventures fund start buying shares and become sole owner of the company in 2012, one year later Fabryo completed the merger with Atlas Paints, the manufacturer of materials and finishes for Atlas Corporation’s construction, of the Greek company John Sitinas.

Law firm Popovici Nitu Stoica & Asociatii assisted Oresa Ventures, while AkzoNovel worked with Schoenherr.

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