Akzonobel intends to acquire the paint and varnish business Kansai Paint and thereby strengthen its position in Africa. The paint manufacturer expects to complete the acquisition, which is still subject to the required permits, for the year 2023. “It will help us to further expand our paint and coatings business in Africa,” says Akzonobel CEO Thierry Vanlacker. “Kansai Paint shares our commitment to innovation and sustainability. We are pooling our expertise in order to offer our customers a wider range of innovative and sustainable solutions.”
Kansai Paint is represented in twelve countries in Africa and has a regional consolidated turnover of around EUR 280 mio. The transaction also includes the Plascon brand. Together with Akzonobel’s brand Dulux, they are the longest established paint brands in the region, the manufacturer points out. The acquisition also includes vehicle paint and protective varnishes as well as coatings.