Berger Paints and JSW Paints are looking at acquiring Akzo Nobel, the maker of Dulux paints, as the Dutch multinational has started a review if its decorative pains business in South Asia. Both Berger and JSW are reported to have expressed their interest in acquiring the business, which would help them expand share in India’s booming paints market.
Akzo Nobel, which is into decorative and performance coatings business, is currently carrying out a strategic review of its portfolio in South Asia. The company is a leader in performance coatings products like paints for ocean going vessels and also industrial paints.
While Akzo Nobel is looking at European and Chinese markets, Berger and JSW want to expand their India market to grow their business.
Akzo Nobel India is a diversified paints company with a presence in decorative, automotive, marine, industrial, protective and powder coatings. It is also the fourth-largest paints company in India with an estimated 7 per cent market share.
Akzo Nobel, which has been in India over the past 70 years, is carrying out a strategic review of its business portfolio in South Asia and may spin off the decorative paints business.
