Akzo Nobel N.V. and Axalta Coating Systems Ltd. recently announced they have entered into a definitive agreement to combine in an all-stock merger of equals, creating one global coatings company.

Following the merger, current AkzoNobel CEO and chairman of the board of management, 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.

“We’re excited to enter a new chapter in our long and proud history as a leader in the paints and coatings industry,”  Poux-Guillaume says. “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. I’m excited to lead our talented teams in bringing the best of both companies to our customers and shareholders, delivering outstanding value to both.”

The merger will bring a diversified portfolio of brands, increased geographic scale and commercial reach and an updated financial portfolio. The companies expect the transaction to close in late 2026 to early 2027.

“We are pleased to enter into this transaction with AkzoNobel and join our best-in-class platforms to enhance innovation, develop new capabilities and further strengthen customer relationships,” Villavarayan says. “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. Together, AkzoNobel and Axalta are positioned to establish a profitable and sustainable path forward as a leader in the coatings industry. Like AkzoNobel, we value our people as our greatest asset, and we are excited to unite our rich, innovation-focused cultures.”