DuluxGroup Ltd (ASX:DLX)
says it will acquire the assets of a small UK-based paints business called Craig & Rose.
Craig & Rose was founded in 1829, and is a niche manufacturer of premium paint products.
This acquisition isn’t expected to be material to the DuluxGroup, as Craig & Rose makes annual sales of less than $10 million.
The company says the acquisition of this small business is consistent with its strategy of growing niche positions in offshore markets.
DuluxGroup reported a net profit of $63 million at 31 March 2016.