AkzoNobel to Strengthen Position in Sub-Saharan African Market with Mauvilac Acquisition
AkzoNobel reports that the transaction includes a local production facility, four concept stores, and access to a strong distribution network.
AkzoNobel recently announced that it has entered into an agreement to acquire 100% of the shares of Mauvilac Industries Limited, a paints and coatings company in Mauritius. AkzoNobel reports that the transaction includes a local production facility, four concept stores, and access to a strong distribution network.
Mauvilac, which generated revenue of around €20 million (approximately $22.2 million) in 2018, is a decorative and specialty paints and coatings manufacturer headquartered in Les Pailles, Mauritius. The company’s portfolio consists of 85% decorative paints and 15% coatings, offering a wide range of professional and consumer products.
“We are happy to announce the acquisition of Mauvilac as it strengthens our footprint in Sub-Saharan Africa and supports our leading position in the African decorative paints market,” said Thierry Vanlancker, CEO of AkzoNobel. “Mauvilac is a leading company in Mauritius and the proud owner of the best-known paint brand on the island. We look forward to adding such a strong brand to our world class portfolio and welcoming the employees from Mauvilac to the AkzoNobel family.”
According to Laurent Roussel, CEO of Mauvilac, “We’re looking forward to joining AkzoNobel. Both our companies have a strong passion for quality, innovation and sustainability. Bringing the energy of the two companies together, will create a promising future for all.”