PPG Industries acquired Tikkurila Oyj for $1.7 billion, a transaction completed in June 2021, structured as cash tender offer for all outstanding shares.
Tikkurila Oyj operates in Performance Coatings (Architectural Coatings EMEA) and Industrial Coatings. Tikkurila Oyj, a leading Nordic producer and distributor of decorative paint and coatings, including an industrial paint business for the wood and metal industries. PPG completed its tender offer on June 10, 2021, moving from a 9.3% pre-offer stake to 97.1% immediately after, and reached 100% ownership through a squeeze-out during the fourth quarter of 2021.
Expands PPG's decorative and industrial coatings footprint across the Nordic region and broader EMEA architectural market.
Advisory firms were not disclosed for this transaction.