PITTSBURGH – PPG Industries has finalized the purchase agreement to acquire European coatings company Dyrup A/S, based in Copenhagen, Denmark, from its owner, Monberg & Thorsen, a public holding company. Dyrup, a European producer of architectural coatings and specialty products, operates six manufacturing facilities in Europe. Dyrup’s brands include Bondex, Gori, and Xylophene, and its products are sold primarily in Denmark, France, Germany, Portugal, Poland, and Spain through professional and DIY channels.
The final transaction value, including assumed debt, has been set at EUR 115 million ($160 million), based on final due diligence. Both parties have agreed on a closing date of Jan. 5, 2012.
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