JSW Paints, Berger Paints Eye Acquisition of Akzo Nobel's India for $1 Billion

Mumbai, January 11, 2025 - JSW Paints and Berger Paints are reportedly in a heated bid to acquire Akzo Nobel India, the country's fourth-largest painters company. The acquisition of Akzo Nobel India is part way through a strategic review of its decorative arm by the Dutch multinational paint manufacturer.

Akzo Nobel India is valued around $1 billion and operates widely across industrial, automotive, speciality, and marine coatings segments in addition to decorative paints.

In a press conferance of Indian Paint Association's event, JSW Paints Joint Managing Director & CEO Sundaresan AS indicated that Akzo Nobel has begun an operation. This sparked curiosity and excitement among business circles regarding this acquisition.

Sundaresan stated, "If acquiring Akzo Nobel were profitable, then the organization is open to exploring opportunities for inorganic increase." Speaking on the side lines of his statement at a press event held by Indian Paint Association's Conference Sundaresan further indicated that they would evaluate it based on its profitability and synergy.

Accordingto available details of JSW Paints ,Sundareshan stated that expansion will occur over three to five years as part of this strategy with Rs 1,000 crore proposed for such endeavours.A senior official of Berger Paints  stated in response thereto,"We are open to opportunities in Akzo Nobel decorative business at a fair valuation."

Akzo Nobel India is currently leading company valued around $ 1000 million.