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

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.

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