AkzoNobel has reached an agreement with Japan-based Kansai Paint to acquire its paints and coatings activities in Africa. The acquisition, which is subject to regulatory approvals, is expected to close in 2023.
Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of approximately €280 million. The acquisition includes automotive and protective coatings, as well as the long-established Plascon brand.
“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth,” says AkzoNobel CEO, Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.”