PPG Industries, one of the world’s largest coating producers, has entered into a share purchase deal with Monberg & Thorsen to acquire a European coatings firm, Dyrup. The transaction is worth approximately €135 million. Monberg & Thorsen is a public holding firm.
Dyrup, headquartered in Copenhagen, Denmark, manufactures various architectural coatings such as wood stains and specialty products. The company operates six manufacturing plants in Europe. The brands of the Denmark-based firm include Gori, Xylophene and Bondex. These brands are distributed through professional and DIY networks mostly in Spain, France, Denmark, Poland, Germany and Portugal.
Pierre-Marie De Leener, Executive Vice President of PPG Architectural Coatings – EMEA and President of PPG Europe, quoted that the new acquisition will expand the company’s architectural coatings business in Europe by increasing its geographic presence and by strengthening its wood care solution offerings. Dyrup purchase will reinforce PPG’s position in Denmark, France and Poland and will establish the company’s presence in new regions, particularly in Germany, Spain and Portugal.