BOSSES say the sale of Crown Paints to a Danish firm is good news for its 500 workers in Darwen.

The company has been snapped up by Danish coatings supplier Hempel after being put on the market by private equity owner Endless LLP late last year.

The deal, which is undisclosed but is understood to be worth more than £150million, secures a bumper windfall for Leeds-based Endless, which paid £70million for Crown in 2008.

Crown chief executive Brian Davidson told the Lancashire Telegraph: “This is a case of Hempel choosing us.

“There is a good understanding and we are a good fit, and there are plenty of synergies in what we do.

“There is absolutely no change as far as the Darwen site goes, except that we will continue to get better.”

Mr Davidson confirmed that he did not foresee any job losses from the deal.

Hempel boss Pierre-Yves Jullien added: “We needed a company that could bring us expertise that we have not already got and Crown give us that.”

While Crown will boost Hempel’s sales, the deal will give the East Lancashire firm greater distribution in foreign markets.

The swoop was also welcomed by a union leader, who said it came as a ‘relief’ to staff.

Bob Welham, Crown’s on-site GMB union official, said: “This comes as a relief to staff in Darwen as my understanding is that some interested parties may have closed the site.

“This partnership with Endless has been successful but this deal means we can get on with things long-term and get better.”

Endless, which acquired Crown from Dutch giant Akzo-Nobel, transformed the company’s fortunes, with £20million profits on £180million sales last year.

Hempel’s turnover last year was £790million.