Akzo Nobel acquires Mauvilac
Akzo Nobel has entered into an agreement to acquire 100 % of the shares of Mauvilac Industries, a leading paints and coatings company in Mauritius.
The transaction includes a local production facility, four concept stores and access to the distribution network. The business generated revenue of around EUR 20 million in 2018 and is a decorative and specialty paints and coatings manufacturer headquartered in Les Pailles, Mauritius. Their portfolio consists of 85% decorative paints and 15% coatings, offering a wide range of professional and consumer products.
Decorative and specialty paints and coatings
The company was founded in 1964 by Roland Maurel Sr. and in July 2014 private equity fund Adenia acquired 95% of shares in the company. The planned transaction is expected to be completed in the first half of 2020, subject to customary conditions.
Image source: Pixabay
