JSW PAINTS COMPLETES THE ACQUISITION PROCESS OF AKZO NOBEL INDIA
JSW PAINTS COMPLETES THE ACQUISITION PROCESS OF AKZO NOBEL INDIA
Mumbai, December 11, 2025: JSW Paints Limited (“JSW Paints”) today acquired a majority stake of 60.76% in Akzo Nobel India Limited (“ANIL”) from Akzo Nobel N.V. and its affiliates. JSW Paints had already acquired 0.44% stake from the public shareholders of ANIL upon successful completion of an open offer and its stake now stands at 61.2% post today’s acquisition.
JSW Paints is India’s fastest growing paints company and a part of the US$ 23 billion JSW Group, India’s leading conglomerate with diverse interests across a range of B2B and B2C sectors including steel, cement, energy, infrastructure, automotive and paints. ANIL is one of India’s leading decorative and industrial paints players and was a part of Akzo Nobel, a global leader in decorative paints and industrial coatings headquartered in the Netherlands.
This transaction positions JSW Paints as one of the major players in the sector which is expected to see robust growth in the years ahead.
Mr. Sajjan Jindal. Chairman, JSW Group, said “I am happy to welcome the AkzoNobel India team to the JSW Family. We have always believed that India deserves paints and coatings that are trusted and world-class. With Dulux, we are proud to bring global quality to homes and industries across India. Together, there is an incredible opportunity here to build a stronger, brighter and more colorful future for our customers and for India.”
Mr. Parth Jindal, Managing Director of JSW Paints, said “We are delighted to welcome Akzo Nobel India into the JSW family. This is a historic occasion, as it marks one of the largest acquisitions in India’s paints and coatings market. Together, along with the Akzo Nobel India family - employees, customers and partners - we aspire to build the paint company of the future. With the Magic of Dulux and Thoughtfulness of JSW Paints, we look forward to delighting customers and building lasting value for our stakeholders.”
Mr. Greg Poux-Guillaume, CEO of AkzoNobel, said “Today’s closing is an important step in sharpening our strategic focus and positioning AkzoNobel for long-term value creation. We are grateful to our colleagues in India for their many contributions and are pleased to see the business transition to JSW, a strong and committed partner in the region’s fast-growing paints and coatings market.”
Morgan Stanley acted as the exclusive financial advisor to JSW Paints on this transaction. Khaitan & Co. acted as the legal advisor. Deloitte acted as the financial and tax due diligence advisor.
About JSW Paints: Launched in 2019, JSW Paints is today one of India’s fastest growing paints companies, with a diverse portfolio of decorative paints and industrial coatings. With a long-standing history of product and process innovation, consumer-resonant brand marketing, state-of-the-art manufacturing facilities and an expanding, pan-India distribution network, the company aims to revolutionise the Indian paints industry.
About JSW Group: The US$ 23 billion JSW Group is ranked among India's leading conglomerates. JSW's innovative and sustainable presence in various sectors including Steel, Energy, Infrastructure, Cement, Paints, B2B Ecommerce, Venture Capital, Defence, Green Mobility and Sports is helping the Group play an important role in driving India’s economic growth. The Group strives for excellence by leveraging its strengths & capabilities including a successful track record of executing large capital-intensive & technically complex projects, differentiated product-mix, state-of-the-art manufacturing facilities and a greater focus on pursuing sustainable growth. With a culturally diverse workforce spread across India, USA, Europe and Africa, JSW Group directly employs nearly 40,000 people. It also has a strong social development focus aimed at empowering local communities residing around its Plant & Port locations. JSW Group is known to create value for all its stakeholders by combining its growth roadmap, superior execution capabilities and a relentless drive to be #BetterEveryday.
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