Recently, foreign paint giant Akzonobel announced that it has reached an agreement with Xuanwei to acquire Xuanwei's decorative paint business in China, which is expected to be completed in the second half of 2023.
In 1866, Henry Sherwin and Edward Williams co-founded Sherwin-Williams. Today, Xuanwei has developed into a global enterprise, whose business covers the R&D, manufacturing, distribution and sales of coatings and related products, and is committed to providing high-quality products and services to professional, industrial, commercial and retail customers.
For more than 150 years, Xuanwei has been at the forefront of paint innovation, with operations in more than 120 countries around the world, with more than 60,000 employees, and a sales network that includes not only more than 5,000 Xuanwei directly-operated paint retail stores and branches around the world, but also Shopping malls, home improvement stores, independent paint dealers, hardware stores, auto retailers, and industrial dealers, etc.
In 2017, Xuanwei completed the acquisition of Valspar, which further expanded the company's scale, business scope and global sales network. In 2018, Sherwin-Williams had net sales of $17.5 billion. Xuanwei entered Asia in 1930 and established a regional headquarters in Shanghai. Today, Xuanwei has provided coating solutions to most countries and regions in Asia, has more than 3,500 employees, and operates more than 10 production bases.
Sherwin-Williams has seven business divisions in Asia: Industrial Wood Coatings, General Industry, Automotive Coatings, Packaging Coatings, Industrial Heavy-duty and Marine, Coil and Profiles, and Consumer Brands. Its well-known brands include Sherwin-Williams® ), Valspar®, China Resources Paint® , Aquaguard®, Valde®, AWXP®, Ultra7000®, Fluropon® (Fluropon®), WeatherXL™, etc., serving construction, home improvement, industry, packaging, transportation transportation and other markets.
The acquisition intention includes the China Resources paint brand under Sherwin-Williams . In 1991, China Resources Paint was founded in Shunde, the hometown of Chinese paint. After more than 20 years of hard work, it has become an advocate of high-quality and healthy paint in China, especially a real expert in the paint industry in the eyes of professionals. The main factory is located in Shunde, Guangdong, and has nearly 400 offices across the country. Tianjin, Shunde, Shanghai, and Chengdu have technical service centers, and the technical service and sales service network covers the whole country.
China Resources Paint is a brand under Xuanwei Consumer Brand Group. With its cutting-edge research and development technology and exquisite production equipment technology, it is constantly innovating and improving. China Resources Paint aims to provide consumers with environmentally friendly and healthy paint products and related services to create a high-quality family life. China Resources Paint A+ series products can meet the strict European and American testing standards 24 hours after painting, and truly achieve 24-hour health and enjoyment of the new home; its antibacterial series products can effectively inhibit the growth of bacteria, and the antibacterial rate reaches 99.99%, so that comfortable The home environment is more immune. At the same time, China Resources Paint has more than 1808 kinds of colors to choose from, helping you easily match your dream home environment.
After more than 30 years of brand precipitation, China Resources Paint is positioned as a real expert in the paint industry. In recent years, it has embraced young people wholeheartedly from the level of product promotion, and integrated the "wild" life attitude of insight into nature into brand revitalization. The company's annual sales are about 100 million euros, with about 300 employees and a production base.
This acquisition declares that sprinting high-end products will become the mainstream in the future. The combination of the two leading companies will also jointly bring more powerful products and services to customers, and strengthen AkzoNobel’s influence and brand portfolio in the Chinese market . As the CEO said, it will support the business to further unlock potential and bring new opportunities.
