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JSW Paints Eyes Top 3 Spot After Acquiring Akzo Nobel’s Decorative Business in India

Written by: Neha DubeyUpdated on: 2 Jul 2025, 4:14 pm IST
JSW Paints acquires Akzo Nobel’s decorative business in India, aiming to break into the top 3 with strong local execution and global technology support.
JSW Paints Eyes Top 3 Spot After Acquiring Akzo Nobel’s Decorative Business in India
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In a significant expansion of its footprint in the Indian paint industry, JSW Paints has acquired the decorative paints division of Akzo Nobel India for ₹12,915 crore. Following this transaction, JSW Paints becomes the fourth-largest company in the sector and is aiming to move into the top three.

Why Akzo Nobel Chose JSW Paints?

Akzo Nobel’s decision to partner with JSW Paints wasn’t just a divestment — it was a calculated move to align with a local leader capable of scale and execution. ET NOW quoted Akzo Nobel CEO Greg Poux-Guillaume as saying, explaining the rationale behind the decision:

“It really is a positive choice. It was reaffirmed by everything we saw during the discussions the values, the ethics, the transparency, and the enthusiasm of the JSW Group," he further added.

He emphasised that JSW’s deep understanding of the Indian market, coupled with its ethical approach and leadership under Parth Jindal, were key factors in finalising the deal. The partnership allows Akzo Nobel to continue influencing India’s paint segment while focusing on its powder coatings business, which it will continue to own and operate independently.

JSW Paints' Vision: Cracking the Top Three

Akzo Nobel CEO Greg Poux-Guillaume also acknowledged JSW’s ambitions, suggesting that the company is well-positioned to move up the industry ranks. With a defined roadmap, family-led leadership, and significant capital support, JSW Paints is aiming to strengthen its presence in a sector long dominated by legacy players.

 Akzo Nobel will remain involved as JSW’s technology partner across all coating segments, contributing to product development and quality improvements.

JSW Paints’ Acquisition Details of Akzo Nobel India

As part of the agreement, JSW Paints will acquire a 74.76% stake in Akzo Nobel India for ₹8,986 crore and has announced an open offer to purchase an additional 25% from public shareholders for up to ₹3,929.06 crore.

This acquisition is expected to expand JSW Paints’ retail footprint, broaden its product range, and enhance its competitive position in the Indian paint market, where it will now compete more directly with leading players such as Asian Paints and Berger Paints.

Read More: Why Asian Paints Shares Are Down 30% from 52-Wk High? A Deep Dive into Industry Changes.

Conclusion

The acquisition of Akzo Nobel’s decorative business by JSW Paints represents a notable development within India’s paint sector. By combining local market presence with continued technology collaboration, the deal reflects a strategic alignment between two companies with complementary strengths. It also highlights the ongoing shifts in the industry as businesses adapt to changing market dynamics and explore new growth opportunities.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jul 2, 2025, 10:40 AM IST

Neha Dubey

Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.

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