Akzo Nobel to acquire activities from Kansai Paint
Akzo Nobel is to further strengthen its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region.
Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around EUR 280 million. The intended acquisition includes interior and exterior paints as well as automotive and protective coatings, and coatings for wood and coil.
“We look forward to combining our expertise”
“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth,” says Akzo Nobel CEO, Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.”
The completion of the acquisition, which is subject to regulatory approvals, is expected during the course of 2023.
