JSW Group Confirms Bid for Akzo Nobel India’s Business

The JSW Group has stepped into the race to acquire Akzo Nobel’s Indian decorative paints business, said Sundaresan AS, Joint Managing Director, JSW Paints, on Friday during the Indian Paints Association (IPA) AGM. Akzo Nobel is a Dutch paints major known for brands like Dulux.

“As far as Akzo is concerned, we are running a process. We would look for inorganic opportunities as a group,” Sundaresan said, explaining that the company’s goal was to increase JSW’s presence in the paints industry through strategic acquisitions.

Reports indicate Akzo Nobel will divest from its decorative paints business in India but retain powder coatings and its R&D businesses under the mother company, Akzo Nobel NV or ANNV. This is so following Akzo’s announcement made on January 6 regarding its strategic review of its powder coatings and R&D businesses.

Rumors were initially there that major players such as Adani Group, Aditya Birla Group, and Asian Paints Ltd were talking to Akzo for the deal. However, Aditya Birla Group later clarified that it was not participating in the bidding process.

Birla Opus Targets Significant Market Share:

Meanwhile, Birla Opus, the paints division of Grasim Industries under the Aditya Birla Group, is targeting a high single-digit market share by March 2025. CEO R. Hargave shared updates on the division’s expansion, stating that four of its six proposed manufacturing plants have commenced commercial production. The fifth facility in the state of Maharashtra is scheduled to roll off soon. The company is quite optimistic about Kharagpur commencing the trial runs at the end of this quarter.

The paint industry in India is becoming a hotbed of competition, with significant players trying to outdo each other in this market. Therefore, JSW Group’s efforts to acquire Akzo Nobel’s Indian business indicate the growing focus on strategic acquisitions to enhance the market position in this high-growth sector.