Akzo Nobel N.V. (AKZA; AKZOY) has completed the acquisition of 100% of the shares of Industrias Titan S.A.U. (Titan Paints), strengthening its paints business and footprint in Spain to become one of the market references in the region.
The transaction includes three production facilities and seven logistics and service centers for decorative paints, including one of the most modern manufacturing plants for water-based paints in Europe in El Prat de Llobregat, near Barcelona.
The business generated revenue of around €80 million. Titan Paints – which also has a relevant presence in Portugal – is one of Spain’s best-known brands. The business shares AkzoNobel’s commitment to sustainable product innovation, with much of its portfolio having received recognition for environmental performance.