The acquisition of Tikkurila, a leading Nordic paint and coatings company, has been completed with PPG announcing that, together with shares it previously acquired, it now controls 97.1% of Tikkurila’s issued and outstanding shares.
Headquartered in Vantaa, Finland, Tikkurila was established in 1862 and is a leading producer and distributor of decorative paint and coatings, with operations in 11 countries and more than 80% of its revenue coming from Finland, Sweden, Russia, Poland, and the Baltic states. The company employs approximately 2,400 people globally and reported sales of approximately €582 million in 2020.
“We are proud of the value we have created through this combination for employees, customers, investors and all other stakeholders,” said Jari Paasikivi, Chairman of the Board, Tikkurila Oyj. “With PPG, Tikkurila employees will have access to additional growth opportunities, while customers will benefit from PPG’s focus on partnership, innovation and growth.”
The combination of Tikkurila and PPG is set to provide even greater benefits for customers, according to Michael McGarry, PPG Chairman and Chief Executive Officer. “We look forward to welcoming Tikkurila employees and leveraging the company’s complementary geographic footprint and strong portfolio of decorative brands to drive future growth. Our teams will work as One PPG to provide customers with expanded paint and coatings options that will now include Tikkurila’s environmentally friendly decorative products and high-quality industrial coatings.”