Multinational AkzoNobel will further strengthen its presence on the African continent after reaching an agreement with Kansai Paint to acquire its paints and coatings activities on the continent, which will continue for the next year.

AkzoNobel CEO Thierry Vanlancker confirms the agreement, saying, “Acquiring Kansai Paint’s activities in the region will help us further expand our paints and coatings business in Africa and provide a solid platform for future growth. Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a broader range of innovative products and more sustainable solutions for our customers”.

For his part, Kunishi Mori, president of Kansai Paint adds that “we are convinced that AkzoNobel is the best owner, as AkzoNobel considers the decorative paints business as a core business and will therefore be able to unlock the full potential of the business, thus contributing to the development of the African economy.”

Present in 12 African countries, Kansai Paint has consolidated regional revenues of around 280 million euros. The transaction includes the Plascon brand, which has more than 100 years of heritage in South Africa. Together with our own Dulux brand, they are the oldest paint brands in the region. The planned acquisition also includes automotive and protective coatings, and coatings for wood and coils.

Jan-Piet van Kesteren, managing director of AkzoNobel’s Decorative Paints business in Europe, Middle East and Africa adds that “Kansai Paint Africa is a beautiful addition to our existing strong business, which spans nine countries in the region. The acquisition will complement our portfolio of leading positions in attractive markets and world-class brands in Africa, while driving growth in relevant emerging markets. It also offers us the unique opportunity to welcome another strong brand with a heritage of more than 100 years and an extensive distribution network.”

The planned acquisition follows a string of recent AkzoNobel acquisitions in paints and coatings over the past two years, including Titan Paints in Spain and Portugal, New Nautical Coatings in the U.S. and, most recently, Grupo Orbis in Latin America.