Akzo Nobel has acquired The Flood Co., which is reportedly the largest independent woodcare business in the U.S. The deal will substantially increase Akzo Nobel's existing share of the U.S. woodcare market. Flood's annual sales turnover is about US$55 million.
"Following on from the acquisition of Sico, Canada's leading decorative coatings company, this transaction allows Akzo Nobel to exploit another attractive segment of the North American coatings market," explained Hans Wijers, Akzo Nobel CEO and member of the Board of Management responsible for Coatings. "We are already firmly established in wood coatings in North America through our renowned Sikkens brand. Acquiring Flood and its successful portfolio of products will now enable us to create a focused retailer, dealer, professional contractor and consumer woodcare business and reinforce our current market position in the U.S., making us one of the leading players in this sector."
Flood's exterior product line accounts for around 90% of its sales, and the company's Penetrol® technology - a paint additive with penetrating properties - is an impor-
tant component in many of its exterior wood finishes and paint additives. Flood also produces a range of products for the restoration of vinyl siding and shutters marketed under the Restora® brand. Its products are actively marketed throughout Europe, North America, Latin America, the Middle East and Australia.
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Akzo Nobel Acquires The Flood Co.
September 12, 2006