Paint manufacturer PPG has announced it will acquire Finland-based paint manufacturer Tikkurila. Headquartered in Vantaa, Finland, Tikkurila was established in 1862 and is a leading producer and distributor of decorative paint and coatings. It operates in 11 countries and employs approximately 2,700 people globally. The company reported sales of approximately $688 million in 2019.
“The combination of PPG and Tikkurila is extremely complementary, both geographically and from a decorative brand perspective,” says PPG chairman and chief executive officer Michael McGarry. “We have long admired Tikkurila’s rich history of establishing very strong decorative brands and product offerings in several northern and eastern European countries where PPG has minimal decorative presence.”
McGarry says the acquisition will enable PPG to provide environmentally friendly decorative products and enhanced distribution capabilities.
“In addition, the combination will provide new cross-selling opportunities, growth opportunities for employees, and product solutions for new segments and customers. We look forward to welcoming the Tikkurila team to PPG and working with them to drive future growth,” says McGarry.
Earlier this month, PPG announced the plans to acquire Ennis-Flint, a global manufacturer of coatings with a background in pavement marking products.
PPG is headquartered in Pittsburgh, Pennsylvania, and has developed and delivered paints, coatings and materials for more than 135 years. PPG operates in more than 70 countries and serves customers in construction, consumer products, industrial and transportation markets and aftermarkets.