AkzoNobel to Acquire Mauvilac
AkzoNobel has agreed to acquire 100 percent of the shares of Mauvilac Industries Limited, a paints and coatings company in Mauritius. The transaction includes a local production facility, four concept stores and access to a distribution network.
Headquartered in Les Pailles, Mauritius, Mauvilac generated revenue of approximately €20 million in 2018 and is a decorative and specialty paints and coatings manufacturer. Its portfolio is 85 percent decorative paints and 15 percent coatings.
“Mauvilac is a leading company in Mauritius and the proud owner of the best-known paint brand on the island,” AkzoNobel CEO Thierry Vanlancker said. “We look forward to adding such a strong brand to our world-class portfolio and welcoming the employees from Mauvilac to the AkzoNobel family.”
Mauvilac CEO, Laurent Roussel added that both companies have a strong passion for quality, innovation and sustainability, and the two companies will create a promising future for all.
The planned transaction is expected to be completed in the first half of 2020, subject to customary conditions.