LYNGBY, Denmark — Coatings manufacturer Hempel has signed a purchase agreement for the acquisition of Farrow & Ball, a luxury decorative paint and wallpaper company with an annual turnover of over €100 million. Hempel agreed to acquire Farrow & Ball from the Private Equity Group of Ares Management Corporation, a leading global alternative investment manager. The transaction is subject to customary regulatory approval and is expected to close in the second half of 2021.
"Farrow & Ball is an iconic, luxury, decorative paint and wallpaper company. It is used by consumers, designers and cultural institutions around the world — all who have a passion for rich colours in an eco-friendly paint. I am very proud to welcome our new colleagues to the Hempel family. Together we will ensure that Farrow & Ball continues its strong growth journey," said Hempel Group President & CEO Lars Petersson.