Pidilite Industries is competing to acquire Akzo Nobel India. The move comes as Akzo Nobel NV plans to divest its Indian operations in a deal valued at INR 13,107 crore.
Jan 28, 2025
Pidilite Industries, a leading adhesives and construction chemicals manufacturer, is exploring acquisitions of Akzo Nobel India, a paint and coating manufacturing company.
Akzo Nobel NV, the parent company of Akzo Nobel India, which holds a 74.76% stake in its Indian subsidiary, is reportedly considering a divestment. The potential bidders include Berger Paints, Indigo Paints and JSW Paints.
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The acquisition is valued at approximately INR 13,107 crore, following Akzo Nobel NV’s strategic decision to sell its Indian operations. This move highlights growing consolidation within the Indian paints industry for strategic growth.
Mr. Sudhanshu Vats, Managing Director Designate, Pidilite Industries Limited, highlighted the company’s ongoing focus on identifying growth opportunities across different scales. He emphasized on Pidilite’s strong track record in strategic growth through collaborations.
As Pidilite gears up for its leadership transition in April, with Mr. Vats set to succeed Mr. Bharat Puri, the company aims to enhance its distribution network, particularly in rural markets.
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Akzo Nobel India has separately announced plans to explore the sale of its powder coatings business and R&D operations to a subsidiary of its parent entity.
