In September 2022, AkzoNobel announced its plans to acquire Kansai Nerolac Paints Ltd’ assets in Africa. Is AkzoNobel really on an Acquisition Spree?ĪkzoNobel has been making strategic acquisitions in the recent past strengthening its position in key growth sectors. This article aims to uncover the past initiatives from the companies in the context of industry consolidation and how this will bring an overall impact on key industry dynamics and their individual industry positioning. The recent announcement from the leading industry participants where one (AkzoNobel) is trying to strengthen its capabilities in the decorative sector and the other (Sherwin Williams) divesting product segments to streamline business processes. The decorative paints sector has been undergoing significant consolidation in the past decade. The acquisition includes Sherwin Williams’s Huarun brand, which is one of the strongest local paint brands with a 30-year-old history in the architectural coatings landscape. Sherwin Williams’ Chinese Decorative Paints business, that Akzo Nobel plans to acquire has an annual revenue of approximately €100 million, employing around 300 people. The acquisition is scheduled to be completed in the second half of 2023, subject to regulatory approvals. announced its plans to acquire the Chinese Decorative Paints business from The Sherwin-Williams Company.
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