DORSET’S Farrow & Ball is in the ownership of a Danish-based paint manufacturer following the completion of a takeover deal.

Hempel Group said it would “grow and nurture” the Wimborne-based paint and wallpaper maker after buying it from the private equity fund which has had the business for seven years.

The international group announced it had completed the takeover of the business, which has a turnover of more than 100m euros (around £85.8m), from the Private Equity Group of Ares Management Corporation.

Hempel's president and chief executive, Lars Petersson, said: “Today is an exciting day as we happily welcome the iconic, luxury, decorative paint and wallpaper company, Farrow & Ball, to the Hempel family.

“I am very proud to bid a warm welcome to over 600 new colleagues and look forward to ensuring together that Farrow & Ball continues its strong growth journey.”

Hempel said the acquisition was the “next, large step” towards doubling its revenue to three billion euros (around £2.57bn).

Mr Petersson added: “We have now taken the next step on our journey to double our business. The addition of Farrow & Ball to our branded portfolio is another proof point that we are going for leadership positions in key segments and geographies.

“Respecting Farrow & Ball’s unique offering and heritage, we will look to grow and nurture a brand, loved by consumers, designers and cultural institutions around the world – all who have a passion for rich colours in an eco-friendly paint.”

Hempel said it intended to use its own strong global presence to grow Farrow & Ball around the world.

Farrow & Ball chief executive Anthony Davey said: “Joining the Hempel Group will offer new opportunities to further support Farrow & Ball’s growth and development.

“The fit is a good strategic match: we share similarly strong heritage, sustainability principles, and are leaders in our field.

“We complement each other in our ambitions and look forward to working together to continue to transform homes around the world with our iconic colours.”