Hempel Buys Cap Couleurs Store Network
“It is a great milestone in our expansion plan of our store network,” says Joe Devitt, Hempel’s executive vice president of decorative. “Cap Couleurs is a great fit from a footprint perspective as we will hold a segment leadership position in the Var region and further increase our presence on the French market. Furthermore, the transaction supports our growth initiatives on own stores, supporting our double impact strategy for Southern Europe.”
Cap Couleurs’ former owner Francois Herisson has now retired and its management team has transferred to Hempel.
Hempel noted that the addition of the network supports its strategy to double revenue by 2025. The acquisition is the third it has made in the decorative segments this year and follows the purchase of Oman’s Khimji Paints in February and Australia’s Paintworld in August.
Author: Elaine Burridge, Freelance Journalist