LYNGBY, Denmark - Danish-based Hempel has announced the acquisition of UK-based decorative coatings manufacturer Crown Paints Ltd. With the acquisition, Hempel takes a step towards achieving its strategic goal of growing its decorative coatings business.

“Crown Paints represents everything we were looking for – a solid position in the market, a sound financial situation, as well as innovative R&D and marketing,” said Hempel’s CEO Pierre-Yves Jullien.

The acquisition will not change Crown Paints’ brands identities, and the daily management and decision power will also remain local. Hempel will also continue to carry out Crown Paints’ existing objectives.