(RTTNews) - Ares Management Corp. (ARES) announced that a fund managed by its Private Equity Group has signed an agreement to sell Farrow & Ball, a UK based paint and wallpaper brand, to Copenhagen-based Hempel Group. Terms of the transaction were not disclosed. Ares expects this transaction to close in the second half of 2021.
Dorset-based Farrow & Ball is available worldwide in 60 showrooms, over 1,700 third party retail locations and through e-commerce business.
David Ricanati, Partner in the Ares Private Equity Group, said, "Since acquiring Farrow & Ball in 2014, we are proud to have partnered with the company during a period of significant value creation,"
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