AMSTERDAM and PHILADELPHIA, Nov. 18, 2025 (GLOBE NEWSWIRE) — Akzo Nobel N.V. (AKZA; AKZOY) and Axalta Coating Systems (NYSE:AXTA) today announced that they have entered into a definitive agreement to combine in an all-stock merger of equals, creating “a premier global coatings company” with an enterprise value of approximately US$25 billion.
The combination brings together two coatings industry leaders with a balanced global footprint spanning over 160 countries.
According to the deal, Axalta shareholders will receive 0.6539 shares of AkzoNobel stock for each share of Axalta common stock owned; in addition, AkzoNobel will pay a special cash dividend to AkzoNobel shareholders equal to €2.5 billion (euros) minus the aggregate amount of any regular annual and interim dividends paid by AkzoNobel to AkzoNobel shareholders in 2026 prior to completion.
AkzoNobel shareholders will own 55 per cent and Axalta shareholders will own 45 per cent of the combined company on a pro forma basis immediately after closing.
The transaction is expected to close in late 2026 to early 2027.
The combined company “will be well-positioned to drive substantial growth and shareholder value creation,” building on 2024 revenues of approximately US$17 billion and US$1.5 billion.
“We’re excited to enter a new chapter in our long and proud history as a leader in the paints and coatings industry,” said Greg Poux-Guillaume, Chief Executive Officer and Chairman of the Board of Management of AkzoNobel. “This merger will allow us to accelerate our growth ambitions by bringing together highly complementary technologies, expertise and passionate people to unlock our full combined potential.”
“As our industry continues to grow and evolve, this combination with AkzoNobel enables us to do the same, with a sharper competitive edge and new avenues and opportunities for growth,” said Chris Villavarayan, CEO and President of Axalta. “Together, AkzoNobel and Axalta are positioned to establish a profitable and sustainable path forward as a leader in the coatings industry.”
Current AkzoNobel CEO, Greg Poux-Guillaume, will serve as CEO of the combined company, and current Axalta CEO, Chris Villavarayan, will serve as Deputy CEO. Current Axalta SVP and CFO, Carl Anderson, will serve as the CFO of the combined company. Current AkzoNobel CFO, Maarten de Vries, will retire from AkzoNobel prior to closing as previously announced.