Sirca has announced acquisition of the entire business under the brand name “Wembley” from Wembley Paints & Chemicals and Indo Wembley Paints Private Limited. It’s not acquisition of an entity but only the brand, it’s clients and identified employees. No manufacturing facility acquisition is involved. Consideration for acquisition is Rs 8.15 cr. With this acquisition, … Read more
Kansai Paint Co Ltd. the parent held a India strategy briefing. Key highlights included – Given the increasing competitive pressures in the decorative paints market, the Indian business to sharpen its focus on the industrial paints segment to drive growth. The goal: to become India’s second-largest coatings company by 2030. It aims to maintain its … Read more
The veteran Anuj Jain and the Company (KNPL) have mutually decided that Mr. Jain will take early retirement from the services of the Company at the close of business on 31st March, 2025. He is being replaced with Mr. Pravin Chaudhari, another experienced veteran. Mr. Chaudhari has over 30 years of experience building B2C and … Read more
This is further to the ongoing consolidation/ restructuring at Akzo Global. The Indian entity has been in the market to sell its decorative paints business. Now, it’s selling the power coatings business and the R&D centre to the Netherlands-based parent entity. Akzo Nobel N.V. (the parent) will be paying Rs 2,073 crore and Rs 70 … Read more
Pidilite, Indigo Paints and JSW Paints are speculated to be interested in 74.76% stake of Akzo Nobel in it’s Indian subsidiary. Talks with Adani and Aditya Birla Group didn’t proceed much. Valuations are expected to be $2.1-2.5 bn (Rs 18,000 – 21,000 cr against the current mcap of Rs 17,000 cr). Key draw is Akzo’s … Read more