JSW Paints is actively exploring opportunities for inorganic growth, including participation in the ongoing process initiated by Akzo Nobel. Speaking at the Indian Paint Conference in Kolkata, Sundaresan A S, Joint Managing Director and CEO of JSW Paints, stated, “As a group, we are open to considering inorganic growth opportunities. Akzo has announced a process, and we will certainly evaluate it.”
Sundaresan highlighted that any potential acquisition must align strategically and complement the company’s existing operations. Regarding Akzo Nobel, he noted its valuable brands and potential geographic synergies.
On the company’s organic growth plans, Sundaresan revealed that JSW Paints is set to invest ₹1,000 crore over the next three to five years. In October 2024, Akzo Nobel NV (ANNV), the parent company of Akzo Nobel India, announced a strategic review to refocus its capital on expanding its core coatings businesses. The review prioritizes the decorative paints market in South Asia, a region considered ripe for consolidation.
“Akzo Nobel holds a premium and profitable position in India, with a strong growth history. Its unique market standing positions it well to capitalize on the dynamic South Asian decorative paints market,” the company said in a press release. The review includes exploring partnerships, joint ventures, mergers, or divestments.
Earlier this week, Akzo Nobel India disclosed in an exchange filing that ANNV had requested its board to evaluate and potentially proceed with selling its powder coatings business and international research center to a wholly owned subsidiary of ANNV. Additionally, Akzo Nobel India might acquire decorative paints intellectual properties owned by ANNV.
In addition to JSW Paints, Berger Paints is reportedly considering the opportunity presented by Akzo Nobel. Addressing media speculation about its interest in acquiring Akzo Nobel India’s stake, Berger clarified to stock exchanges that it routinely evaluates proposals for inorganic growth and diversification. However, it stated there was no material development to disclose at this stage under Listing Regulations.
JSW Paints, part of the JSW Group, is a dynamic entrant in India’s paint industry, offering innovative and customer-centric solutions. Launched with a vision to redefine the market, the company introduced its unique “Any Colour One Price” strategy, ensuring consumers pay the same price for any color or finish, simplifying decision-making.
JSW Paints provides a comprehensive range of decorative and industrial paints, focusing on high-quality, eco-friendly products that are low in volatile organic compounds (VOC) and free from harmful chemicals. With advanced manufacturing facilities and a strong distribution network, the company is committed to sustainable practices and enhancing customer satisfaction. JSW Paints continues to expand its footprint across India, delivering vibrant, durable, and environmentally responsible solutions for homes and businesses.