AkzoNobel and Axalta Coating Systems Ltd. have agreed to merge in an all-stock transaction that will create one of the world’s largest coatings companies, generating $17 billion in annual revenue and carrying an enterprise value of $25 billion. Announced on Tuesday, the deal brings together two long-established industry players with highly complementary product portfolios and strong positions across automotive, industrial and specialty coatings.
The combined company will operate with a significantly expanded global footprint, including 173 manufacturing sites and 91 research and development facilities worldwide. Executives say the merger is expected to deliver approximately $600 million in actionable cost and operational benefits, with around 90% realized within three years of closing.
Ben Noteboom, chair of AkzoNobel’s Supervisory Board, called the merger “a compelling opportunity” to build a stronger platform for sustainable growth. Leadership of the new entity will be shared: Rakesh Sachdev will chair the one-tier board, with Noteboom as vice chair, while Greg Poux-Guillaume will serve as CEO and Chris Villavarayan as deputy CEO. Axalta CFO Carl Anderson will take over as CFO.
The merged company will operate under a new name and ticker, maintain dual headquarters in Amsterdam and Philadelphia, and fall under a Dutch holding structure. Closing is expected between late 2026 and early 2027. 
Source: AkzoNobel with additional information added by Glass Balkan
