AkzoNobel to Sell 72 Paint Shops in Germany

AkzoNobel said on Wednesday it plans to sell its 72 decorative paints stores for professionals in Germany to independent wholesale distributors to improve efficiency.

"The new set-up will allow AkzoNobel to select the most efficient distribution channels for its professional paint products, rather than operating its own stores," the company said in a statement, adding that it wants to enter into strategic partnership agreements with the future shop owners. No financial details were given.