JSW Paints Buys Akzo Nobel India – $1.6B Deal
- JSW paints, backed by Savitri Jindal and her family, is set to significantly expand its footprint in the Indian paint industry.
- The agreement stipulates that Akzo Nobel, based in Amsterdam, will receive €900 million in cash from the sale.The remaining funds will be allocated to debt reduction, according to...
- Greg Poux-Guillaume, CEO of Akzo Nobel, expressed confidence in the deal.
JSW Paints just made a major move, acquiring Akzo Nobel India in a landmark $1.6 billion deal. This strategic investment strengthens their position in the dynamic Indian paint market, setting the stage for notable growth. The acquisition includes a $900 million cash payout to Akzo Nobel, fueling JSW’s ambition to become a leading paint company. This deal comes amidst increasing competition with Reliance industries and other new entrants. Learn how JSW aims to leverage the “Magic of Dulux” and their own “Thoughtfulness” in this evolving landscape.For thorough financial news, News Directory 3 has you covered. Discover what’s next for JSW Paints and the future of the paint industry.
JSW Paints Acquires Akzo Nobel india in $1.6B Deal
Updated June 27, 2025
JSW paints, backed by Savitri Jindal and her family, is set to significantly expand its footprint in the Indian paint industry. The company has agreed to acquire a majority stake in Akzo Nobel India in a deal valued at €1.4 billion ($1.6 billion), including debt. This strategic acquisition of Akzo Nobel India will allow JSW Paints to double down on the industry despite increasing competition.
The agreement stipulates that Akzo Nobel, based in Amsterdam, will receive €900 million in cash from the sale.The remaining funds will be allocated to debt reduction, according to a joint statement.
Greg Poux-Guillaume, CEO of Akzo Nobel, expressed confidence in the deal. “With JSW, we are confident the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the sector,” he said.
The transaction is pending regulatory approval. Following the acquisition, JSW will be required to make a mandatory tender offer for the remaining shares of Akzo Nobel India, the manufacturer of Dulux paints.
Parth Jindal, managing director of JSW Paints, outlined the company’s vision. “We aspire to build the paint company of the future,” Jindal said. “With the Magic of Dulux and Thoughtfulness of JSW Paints, we look forward to delighting customers and building lasting value for our stakeholders.”
The JSW Paints acquisition comes amid a period of heightened competition within the Indian paint market. Earlier this month, Reliance Industries divested a significant portion of its Asian paints shares for 77 billion rupees ($895 million). Reliance had been gradually reducing its stake due to slowing demand and increased competition from new entrants,including Kumar Birla’s Birla Opus.
What’s next
The acquisition is expected to close following regulatory approvals. JSW Paints will then focus on integrating Akzo Nobel India’s operations and leveraging the strengths of both companies to enhance its market position and product offerings in the competitive paint industry.