AkzoNobel and Axalta have entered into an agreement to merge on the basis of a share swap. The combined company is expected to have annual sales of approximately $17 billion and an enterprise value of approximately $25 billion, making it one of the world's largest coating suppliers. Both manufacturers bring complementary businesses, including powder, refinish, automotive, aerospace, marine and protective coatings, as well as industrial coatings and decorative paints. The combined organization will be represented in over 160 countries.
Planned synergies and R&D structure
The company anticipates identified potential savings of around USD 600 million, most of which are to be realized in the first three years after completion. Savings are expected to come primarily from procurement, administration, the production network and the supply chain. In addition, the research and development structure with 91 facilities and around 4,200 employees worldwide will be bundled. The joint R&D expenditure amounts to around 400 million US dollars per year.
Governance, locations and timetable
The new company will have a single-tier management board. It is planned that Rakesh Sachdev (Axalta) will take over as Chairman, while Greg Poux-Guillaume (AkzoNobel) will act as CEO. The company headquarters will remain in the Netherlands; the operational headquarters will be located in Amsterdam and Philadelphia. After a transitional phase with two stock exchange listings, trading will take place exclusively on the NYSE. The transaction is expected to close between the end of 2026 and the beginning of 2027, subject to regulatory and corporate approvals.