US coatings specialist PPG Industries has agreed to buy leading Romanian paint and architectural coatings manufacturer Deutek for an undisclosed sum. PPG is buying the Bucharest-based firm from the Emerging Europe Accession Fund (EEAF), a €70 million private equity fund that was established in September 2010 to focus on investment opportunities in southeastern Europe, principally Romania and Bulgaria.

Deutek manufactures and markets a large portfolio of professional and consumer paint brands within Romania, including Oskar and Danke! The company reported sales of €30 million in 2015. Jean-Marie Greindl, PPG’s senior vice president, global architectural coatings and president of PPG Europe, Middle East and Africa (EMEA), said the acquisition adds the fastest-growing paint brands in Romania where PPG only has a small presence in architectural coatings.

The transaction is expected to close in the first quarter of 2017, subject to the usual closing conditions and regulatory approvals.