A New Hue for Indian Paints: JSW Set to Acquire Akzo Nobel India

JSW Paints has entered into definitive agreements to acquire up to 74.76% stake in Akzo Nobel India Ltd. (ANIL) from Akzo Nobel N.V. and its affiliates for a maximum consideration of ₹8,986 crore, subject to customary closing adjustments. The transaction is contingent on regulatory approvals, including clearance from the Competition Commission of India (CCI), and the successful completion of a mandatory open offer to ANIL’s public shareholders.

A part of the US$23 billion JSW Group, JSW Paints is currently the fastest-growing paint company in India, with a strong focus on expanding its footprint in both decorative and industrial coatings. Akzo Nobel India, a leading player in the Indian paints market, is known for iconic brands such as Dulux and Sikkens, and operates as a subsidiary of Netherlands-based Akzo Nobel, a global leader in coatings and paints.

This acquisition marks a significant strategic move for JSW Paints, broadening its brand portfolio and product range while reinforcing its ambition to emerge as a major force in the Indian coatings and paints industry.

News by Rahul Yelligetti.