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AkzoNobel Completes Mauvilac Acquisition

Wednesday, April 8, 2020

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Global coatings company AkzoNobel recently announced that it has completed its acquisition of Mauvilac Industries Limited, a paints and coatings company in Mauritius, East Africa.

AkzoNobel

Global coatings company AkzoNobel recently announced that it has completed its acquisition of Mauvilac Industries Limited, a paints and coatings company in Mauritius, East Africa.

The acquisition aims to strengthen AkzoNobel’s footprint in Sub-Saharan Africa and in the African decorative paints market.

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

According to AkzoNobel, the company (headquartered in Les Pailles, Mauritius), generated revenue of about 20 million euros ($22 million) in 2018.

The portfolio consists of 85% decorative paints and 15% coatings with a range of professional and consumer products.

The acquisition was first announced at the end of last year.

“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,” Thierry Vanlancker, AkzoNobel CEO, said at the time.

“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.”

   

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

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