Ares Management Corporation has announced that a fund managed by its Private Equity Group has signed an agreement to sell Farrow & Ball, the premium paint and wallpaper business, to Hempel Group. Terms of the transaction were not disclosed.
Farrow & Ball has a 75-year British heritage. Recognised for its colour and interior design inspiration, Farrow & Ball has become a premium brand which also scores highly on the eco-front with its water-based paints. The brand has a highly engaged consumer base, including a strong social media following. Its products are also available worldwide, via 60 Farrow & Ball showrooms, over 1,700 third party retail locations and via its rapidly growing eCommerce channel.
“Since acquiring Farrow & Ball in 2014, we are proud to have partnered with the company during a period of significant value creation,” said David Ricanati, Partner in the Ares Private Equity Group. “We are delighted that they found the right partner in Hempel to support the company in the years ahead.”
“We had the privilege of stewarding an iconic consumer brand,” added Jordan Smith, Principal in the Private Equity Group of Ares Management. “This sale culminates another successful partnership where our sponsorship helped catalyze transformational growth.”
“We very much appreciate the support and collaboration with the Ares Private Equity team over the last six years,” said Anthony Davey, CEO of Farrow & Ball. “We are looking forward to this next phase in the history of the company and are excited to find a partner in Hempel that appreciates the uniqueness of Farrow & Ball, its community of employees and its devoted customer base.”
The transaction is expected to close in the second half of 2021.
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