AkzoNobel to sell 72 paint shops in Germany

AMSTERDAM Wed Jun 26, 2013 2:18am EDT

AkzoNobel's logo is seen, ahead of a presentation of the paint maker's 2011 fourth quarter and annual results, in Amsterdam February 16, 2012. REUTERS/Robin van Lonkhuijsen/United Photos

AkzoNobel's logo is seen, ahead of a presentation of the paint maker's 2011 fourth quarter and annual results, in Amsterdam February 16, 2012.

Credit: Reuters/Robin van Lonkhuijsen/United Photos

AMSTERDAM (Reuters) - Dutch paints and chemicals group AkzoNobel NV (AKZO.AS) 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.

(Reporting by Sara Webb; Editing by Mark Potter)

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