Sto SE & Co. KGaA acquires New Zealand distribution partner Stoanz Ltd

Sto SE & Co. KGaA, a leading international building coatings manufacturer headquartered in Stühlingen, Germany, has announced the acquisition of its distribution partner in New Zealand, Stoanz Ltd, effective from 1 April 2024. The purchase agreement was finalized on 14 March 2024. This strategic move incorporates Stoanz into Sto as a wholly owned subsidiary, significantly bolstering Sto's presence in the Pacific market.

Since its inception in 1996, Stoanz Ltd has exclusively represented Sto in New Zealand, focusing on facades for the medium to high-end segments of residential and commercial construction. The Wellington-based company, which also operates two warehouse locations in Auckland and Christchurch, employs 23 staff members. Stoanz has developed a reputation for offering customized facade systems that comply with New Zealand's stringent building standards, positioning itself as a market leader in the country's high-quality facade systems sector.

Rainer Hüttenberger, CEO of STO Management SE, which oversees Sto SE & Co. KGaA's operations, expressed enthusiasm over the acquisition. He highlighted that bringing Stoanz under Sto's direct control aligns with the company's strategic objectives to expand its international market footprint. This acquisition is anticipated to further enhance Sto's global reach in the building coatings industry.