JSW Paints has announced its openness to exploring inorganic growth opportunities, including participating in a potential acquisition process initiated by Akzo Nobel. Sundaresan A S, joint managing director and CEO of JSW Paints, confirmed the company’s interest during the Indian Paint Conference in Kolkata, organized by the Indian Paint Association.
The company emphasized that any acquisition would need to align with its strategic goals and complement its existing operations. “Acquisitions must be synergistic and complementary,” Sundaresan stated. Regarding Akzo Nobel’s portfolio, he noted the value of certain brands and potential geographical advantages.
Akzo Nobel NV, the parent company of Akzo Nobel India, announced in October 2024 that it is conducting a strategic review of its portfolio to focus on expanding its core coatings business. The company highlighted South Asia’s decorative paints market as a key area for potential growth and consolidation. Akzo Nobel India is considering steps to reorganize its powder coatings business, its research center, and related intellectual property.
In addition to JSW Paints, other industry players, including Berger Paints, are reportedly evaluating opportunities related to Akzo Nobel’s ongoing strategic review. Berger Paints clarified in a recent exchange filing that it routinely considers proposals for inorganic growth but has no material developments to disclose regarding Akzo Nobel.
On the organic front, JSW Paints plans to invest ₹1,000 crore over the next three to five years to support its expansion efforts.
This announcement highlights JSW Paints’ dual strategy of pursuing both organic and inorganic growth opportunities in a competitive and evolving market landscape.