Paint It Bold: Indian Company Makes ₹8,986 Cr Splash with Dulux Stake, Climbs to #4 Spot

JSW Paints, part of the diversified JSW Group led by Parth Jindal, has signed a definitive agreement to acquire a 74.7% stake in Akzo Nobel India, the maker of the iconic Dulux brand, for nearly ₹9,000 crore ($1.1 billion). This landmark deal propels JSW Paints into the top four paint companies in India’s highly competitive ₹80,000–₹90,000 crore market.

 

Key Highlights:

 

•⁠  ⁠Major Acquisition: JSW Paints outbid rivals including Indigo Paints, Advent International, and Pidilite Industries to secure the stake from Akzo Nobel’s Dutch parent entities.

 

•⁠  ⁠Market Impact: The acquisition boosts JSW’s presence in both decorative and industrial coatings, positioning it as the second-largest player in industrial paints after Kansai Nerolac and fourth in decorative paints.

 

•⁠  ⁠Brand Strength: Dulux, known for its premium and luxury segment dominance, gives JSW a strong foothold in urban markets and enhances its brand portfolio significantly.

 

•⁠  ⁠Future Plans: JSW will make an open offer to acquire an additional 26% stake from public shareholders, aiming to consolidate its control.

 

•⁠  ⁠Strategic Growth: The deal aligns with Akzo Nobel’s global strategy to exit non-core markets and JSW’s ambition to become a paint industry leader, leveraging urbanization and infrastructure growth in India.

 

Outlook:

This acquisition marks a transformative step for JSW Paints, enabling it to challenge established giants like Asian Paints and Berger. With Dulux’s premium appeal and JSW’s scale, the company is set for accelerated growth and intensified competition in India’s booming paints sector.

 

Sources: Economic Times, New Indian Express, Times of India