PPG Industries, Inc. has agreed to buy Tikkurila for around $1.346 billion (€1.1 billion).
Paints and coatings supplier PPG hopes to expand with the acquisition of Finnish competitor Tikkurila. “The combination of PPG and Tikkurila is extremely complementary, both geographically and from a decorative brand perspective,” says PPG chairman and CEO 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.”
Wachtell, Lipton, Rosen & Katz is serving as legal advisor to PPG.