DuluxGroup acquires 187-year-old paint business

Company News

by David Chau

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.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.