Orkla House Care has entered into an agreement to acquire the remaining 50% in Anza Verimex Holding. Since 2018, Orkla House Care has owned 50% of the company, which is the market leader in sales and distribution of painting tools in the Netherlands and Belgium.
The transferred business consists of Anza Verimex Holding BV (Netherlands) and two subsidiaries PGZ Nederland BV (Netherlands) and Anza Verimex NV (Belgium). In the future, companies will operate under the name Orkla House Care Benelux.
“The companies that will become part of the future of Orkla House Care Benelux are in positive development and provide an attractive platform for further growth. We look forward to developing strong Anza and SAM brands, as well as continuing to develop the Benelux category of painting tools, ”says Johs Heg, CEO of Orkla House Care.
Through a business unit, Orkla House Care Orkla is a leading provider of paint tools in Scandinavia and the UK and one of Europe’s largest manufacturers of paint tools. Orkla House Care Benelux is currently wholly owned by a paint tool company.
The joint venture partner that sells its stake is PGZ International BV, a concept and logistics provider. In 2018, the total turnover of the companies covered by this transaction amounted to a little less than EUR 20 million (about NOK 200 million). Today, the business is run by Eric Hovenaars, who will continue to work as the director of Orkla House Care Benelux.
As a partially owned company, the result of the company was recognized as the “result of subsidiaries and jointly controlled companies” in accordance with the equity method, but from October 1, 2019, the fully owned company is consolidated in the income statement of Orkla.