header-societe-05-cromology

Cromology

Cromology innovates to drive growth

95.4%(1)
capital held by Wendel

Cromology is a European leader in decorative paints. It has more than 14 brands recognized on their respective national markets.

(1) as of December 31, 2020
Read more
Chiffres clés
icon
€627.6 m
2020 Sales
i-1
€550 m
Amount invested by Wendel since 2006
i-2
29 %
Women (total headcount)
i-3
80 %
Water-based products

Why did we invest in Cromology?

Cromology is a European leader in decorative paints, a market valued at over €13 billion (the size of the market segment in which Cromology operates is €4.5 billion). The company designs, manufactures, sells and distributes a wide range of decorative paint and products to professionals and consumers through its presence in seven European countries. 65% of its activity is in France, 35% in Southern Europe and in the rest of the world.

The decorative paint market is mainly driven by home renovations, which makes it a relatively resilient market offering long-term growth. It is generally accepted that a home needs repainting on average every eight years and more often if the occupant changes. This timeframe can be shorter or longer depending on the country’s economic activity, household confidence and purchasing power.
Cromology’s end-customers are both professionals and consumers. They expect product quality and consistency, availability and excellent customer service, which Cromology provides through its brand portfolio, offering the best value and a dense distribution network ensuring that it remains close to customers. Cromology has strong local brands, some in the top three of each of its markets, such as Tollens and Zolpan in France, Robbialac in Portugal, Max Meyer in Italy and Arcol in Morocco. Another of Cromology’s competitive strengths is that it generates 60% of its sales in its integrated distribution network of approximately 380 stores. This network distributes Cromology products along with a selected range of complementary products, such as tools and floor and wall coverings, catering to the needs of a broad and diverse customer base. 40% of its sales come from independent retailers and from large DIY stores. Over the past decade, Cromology adopted an aggressive innovation program, with a notable focus on the development of eco-certified products: each year, around 20% of its sales have been achieved with products less than three years old.

Cromology

Quotes from

Cromology places ESG at the heart of its strategy, alongside profitable growth and operational excellence. Performance and impact are now inseparable.

15-lderrien-rond-ok
Loïc Derrien
CEO

Cromology’s ESG approach, multi-channel strategy and product portfolio development will contribute to the group’s future growth.

22-ronds-josselin-de-roquemaurel
Josselin de Roquemaurel
Cromology’s Board member

Outlook for development

Cromology is focusing its efforts on planning and managing operations in the context of the resumption of the pandemic in Europe as well as pursuing the execution of the transformation plans it has launched since 2019 and prioritizing sources of value creation. It also monitors closely its supply chain since the strong rebound of activity has resulted in tight material supplies and raw materials price increases. Given its solid financial structure, the company is in position to look for potential bolt-on acquisitions.
Furthermore, Cromology is developing strong digital innovation to significantly improve service quality and better satisfy its customers.

Sustainable development and non-financial information

The ambition of Cromology and its brands is to help our customers, professionals and individuals, to highlight their technical and aesthetic capabilities, thus contributing in a lasting way to everyone’s comfort and well-being. This conviction means that, as a developer, manufacturer and distributor of decorative paints, Cromology is conscious of its responsibility to all stakeholders who work toward sustainable and responsible growth.

Painter and decorator work table with house project, color swatches, painting roller and paint brushes

Cromology’s ESG approach

01
02
03
04
01
feuille-rond-04
Sustainable products

Design formulas meeting the latest regulatory requirements and customers’ expectations with regards to sustainability and affordability.
In 2020, 58% of products sold within three years are made with eco-labeled products. There is 59% of recycled pastic in the packaging of all Cromology products purchased in France.

02
achats-resp-4
Responsible Purchasing

Formalization of ESG requirements through the signing of a “Responsible Purchasing” Charter by the main suppliers (69% of volume bought comes from suppliers who signed this Charter), and an “Ethical Purchasing” Charter by the employees of the purchasing department (100% in 2020).

03
i-1
Health & Safety

« Safety first » is a core value of Cromology.
In 2020, 92% of all industrial sites have an OHSAS 18001 certification.

04
picto-sponsorship-0
Partnerships

Member of the European Industrial Association of Paint Manufacturers CEPE, Cromology participates in the working group on biocide users.

Wendel’s role in corporate governance

Board of Directors
Caroline Bertin Delacour
Benoit Drillaud
Charles Goulet
Elisa Philip
Jérôme Richard
Josselin de Roquemaurel

Compensation Committee
Josselin de Roquemaurel (Président)
Caroline Bertin Delacour
Charles Goulet

Audit Committee
Benoit Drillaud (Président)
Caroline Bertin Delacour
Charles Goulet
Claude de Raismes

Useful links