By Adam Clark

Akzo Nobel NV (AKZA.AE) said Thursday that it has bought Spanish decorative paint and woodcare business Xylazel from Pharma Mar SA (PHM.MC).

The Dutch paint company didn't disclose the price of the deal. Xylazel generated 20 million euros ($23.5 million) in revenue in 2017, and has one production facility and about 100 employees.

Write to Adam Clark at adam.clark@dowjones.com

(END) Dow Jones Newswires

September 20, 2018 09:03 ET (13:03 GMT)

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