Recently, Akzo Nobel's official website announced that it has completed the acquisition of 100% of mauvilac Industries Limited, a leading paint and coating company in Mauritius. The deal includes local production facilities, four concept stores and a strong distribution network.
The acquisition of mauvilac strengthened Akzo Nobel's footprint in sub Saharan Africa and consolidated its leading position in the African decorative coatings market.
With revenues of about 20 million euros in 2018, the business unit is a leading manufacturer of decorative and specialty paints and coatings, headquartered in lespeyer, Mauritius. Their product portfolio includes 85% decorative coatings and 15% coatings, providing a variety of professional and consumer products.
On December 12, 2019, Akzo Nobel announced that it had reached an agreement to acquire 100% of mauvilac Industrial Co., a leading paint manufacturer in Mauritius, according to the paint procurement network. The deal includes local production facilities, four concept stores and a strong distribution network. By convention, the transaction is expected to be completed in the first half of 2020. "We are pleased to announce the acquisition of mauvilac as it enhances our footprint in sub Saharan Africa and supports our leading position in the decorative coatings market in Africa," said Thierry vanlancker, chief executive of Akzo Nobel. Mauvilac is a leading company in Mauritius and proud owner of the island's most famous paint brand. We look forward to adding such a strong brand to our world-class product portfolio and welcome employees from mauvilac to the Akzo Nobel family. " Ruud Joosten, chief operating officer of Akzo Nobel, added: "mauvilac is a real flagship brand in Mauritius and has been developing for 50 years. The company is a leading company with a strong distribution network, a complete concept store and a huge retailer network. Their high focus on innovation and sustainable solutions is a perfect match for Akzo Nobel's focus. We are very pleased to incorporate such a reputable company into Akzo Nobel. " "We look forward to joining Akzo Nobel," said Laurent Roussel, chief executive of mauvilac. Both of our companies are passionate about quality, innovation and sustainability. Putting the two companies together will create a bright future for everyone. " (source: Akzo Nobel) click the paint purchasing website to learn about purchasing and price information!
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