DuluxGroup owner Nippon Paint has continued in its acquisitions strategy by acquiring the France-based paintmaker,Cromology.Cromology has been owned by Wendel Investments since 2018,but has a long history of its own M&A activity going back over 20 years.That M&A activity has now furnished Nippon Paint with the following positions in Europe and North Africa:1.No 1 in the Italian paint market,which is highly fragmented and accounts for 12% of the company's sales 2.No 2 in the French paint market,where 67% of its sales are derived,earning it 14% of the French paint market overall 3.No 2 in Portugal through ownership of Tintas Robbialac 4.No 3 in Spain 5.No 3 in Morocco The deal brings nine manufacturing sites in the EMEA region to Nippon Paint's global production network.Four of them are in France,two are in Italy and there is one each in Spain,Portugal and Morocco.The company also takes ownership of a distribution network of 386 company-owned stores.The company's main strength is in decorative paint for the trade sector.It has two brands in France through which it operates a strong distribution network.The Tollens brand(168 stores)focuses on interior and exterior coatings and colour,while the Zolpan brand(144 stores)is more concerned with technical coatings and ETICS.The performance of the company-owned stores in recent years has been a core strength of the business,as the French home renovation market has performed well.
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