AkzoNobel to acquire Axalta in $25 Billion deal, forming global coatings giant

AkzoNobel, the maker of Dulux paints, announced on Tuesday that it will acquire Axalta Coating Systems in a transaction that will create a combined coatings company with an enterprise value of $25 billion, as per a report by Reuters.

Under the terms outlined, AkzoNobel shareholders are set to hold 55% of the merged entity, while Axalta investors will own the remaining 45%.

The newly formed company will operate with a single listing on the New York Stock Exchange and retain dual headquarters in Amsterdam and Philadelphia, reflecting the international footprint of both firms. The combined business is expected to generate approximately $17 billion in annual revenue.

AkzoNobel’s current chief executive, Greg Poux-Guillaume, will lead the merged group as CEO. The companies stated that they anticipate completing the merger between late 2026 and early 2027, subject to regulatory and shareholder approvals.