Akzo Nobel's Decorative Coatings business has initiated the latest phase of its competitive European expansion strategy by signing an agreement to acquire Swiss Lack, Switzerland's leading paint company. The deal, which will see Akzo Nobel become the biggest coatings company in Switzerland, includes taking over Swiss Lack's brand portfolio, as well as its large commercial distribution network.
Due to be completed by the end of 2005, the transaction comes several months after Akzo Nobel strengthened its extensive European market presence with similar acquisitions in Germany (e.g., wholesalers Timpe & Mock), and France.