AkzoNobel will strengthen its position and focus on innovation and sustainability.
AkzoNobel has recently announced that it is planning to further strengthen its operations in the African paints and coatings market with the acquisition of Kansai Paint’s regional activities. The completion of the transaction, which is subject to regulatory approvals, is expected to occur during the course of 2023.
“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth. Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers,” has stated the CEO of AkzoNobel, Thierry Vanlancker.
Kansai Paint is operating in twelve African countries and has a regional consolidated revenue of about €280 million. The transaction includes also the Plascon brand – that has more than 100 years of heritage in South Africa – and the automotive, protective, wood and coil coating production.
“We are convinced that AkzoNobel is the best owner as AkzoNobel considers the decorative paints business as a core business and will therefore be able to unlock the full potential of the business, thereby contributing to the development of the African economy,” has added Kunishi Mori, the president of Kansai Paint.
“We believe that AkzoNobel will be the owner who will elevate the business to the next level as AkzoNobel is willing to invest in ESG, is committed to innovation, workforce development and broader career opportunities as well as the long-term success of its paint businesses in Africa,” have also jointly commented Prejay Lalla and Arvind Shekhawat, the CEOs of KPAL and KPEA – the respective Africa entities being sold by Kansai Paint.
AkzoNobel has carried out several other acquisitions across the paints and coatings industry over the last two years, including Titan Paints in Spain and Portugal, New Nautical Coatings in the US and Grupo Orbis in Latin America.
“Kansai Paint Africa is a beautiful addition to our existing strong business which spans across 9 countries in the region. The acquisition will complement our portfolio of leading positions in attractive markets and world class brands in Africa, while driving growth in relevant emerging markets. It also offers us the unique opportunity to welcome another strong brand with a heritage of more than 100 years and a wide distribution network,” has concluded Jan-Piet van Kesteren, the managing director of the decorative paints business unit of AkzoNobel in the EMEA region.