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AkzoNobel Acquires Decorative Paints Company

Monday, December 16, 2019

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Global coatings company AkzoNobel announced late last week that it has entered into an agreement to acquire 100% of the shares of Mauvilac Industries Limited, a paints and coatings company in Les Pailles, Mauritius, in East Africa.

AkzoNobel

Global coatings company AkzoNobel announced late last week that it has entered into an agreement to acquire 100% of the shares of Mauvilac Industries Limited, a paints and coatings company in Les Pailles, Mauritius, in East Africa.

“We are happy to announce the acquisition of Mauvilac as it strengthens our footprint in Sub-Saharan Africa and supports our leading position in the African decorative paints market,” said Thierry Vanlancker, AkzoNobel CEO.

“Mauvilac is a leading company in Mauritius and the proud owner of the best-known paint brand on the island. We look forward to adding such a strong brand to our world class portfolio and welcoming the employees from Mauvilac to the AkzoNobel family.”

The transaction reportedly includes a local production facility, four concept stores and access to the distribution network.

“We’re looking forward to joining AkzoNobel. Both our companies have a strong passion for quality, innovation and sustainability,” said Laurent Roussel, CEO of Auvilac. “Bringing the energy of the two companies together, will create a promising future for all.”

According to AkzoNobel, Mauvilac generated a revenue of 20 million euros ($22.2 million) in 2018. Its portfolio consists of 85% decorative paints and 15% coatings, including professional and consumer products.

The transaction is expected to be completed in the first half of 2020, subject to customary conditions.

   

Tagged categories: Acquisitions; AkzoNobel; Business matters; EMEA (Europe, Middle East and Africa); EU; Good Technical Practice; Mergers

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