Brands
JSW Paints to acquire 74.76 per cent stake in Akzo Nobel India in bold Rs 8986 crore move
MUMBAI: JSW Paints dipped its brush into the big leagues on Thursday, signing definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India Limited (ANIL) for a maximum consideration of Rs 8986 crore. The all-cash deal, one of the sector’s most significant in recent years, marks JSW Paints’ ambitious leap toward top-tier status in India’s fast-expanding paints and coatings market.
The acquisition is contingent upon regulatory approval from the Competition Commission of India and completion of a mandatory open offer to ANIL’s public shareholders. Should all go as planned, the JSW Group’s paints arm will become a heavyweight challenger to incumbents in a market long dominated by a few legacy players.
ANIL, the Indian arm of Netherlands-based Akzo Nobel, brings with it marquee brands like Dulux, International and Sikkens, and a strong decorative and industrial paints portfolio. In return, JSW Paints, part of the $23 billion JSW Group, gains reach, muscle and a serious splash of brand equity.
JSW Paints managing director Parth Jindal said, “Paints & Coatings is one of India’s fastest growing sectors and JSW Paints is amongst the fastest growing paint companies. Akzo Nobel India is home to some of the most globally renowned brands of paints & coatings like Dulux, International and Sikkens. We are excited to welcome them to the JSW family. Together, along with the Akzo Nobel India family – employees, customers and partners – we aspire to build the paint company of the future. With the Magic of Dulux and Thoughtfulness of JSW Paints, we look forward to delighting customers and building lasting value for our stakeholders”.
Akzonobel CEO Greg Poux-Guillaume added, “This transaction is a significant milestone in the execution of our strategy. Akzonobel India has been a consistently strong performer, and we are proud of the brand and talent that have made it a success. With JSW, we are confident the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the sector”.
The acquisition underscores a broader strategy by JSW Paints to cement itself as a dominant force in a market projected to clock double-digit growth, driven by rising urbanisation, housing demand, and premiumisation. It also reflects increasing consolidation in the Indian paints sector, where the battle for shelf space and mindshare has intensified.
Morgan Stanley served as exclusive financial adviser to JSW Paints, with Khaitan & Co. acting as legal counsel and Deloitte overseeing financial and tax due diligence.
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Brands
Faber-Castell India appoints Sunaina Haldar as director – marketing
With stints at Tata, SleepyCat and ADF Foods under her belt, Haldar is primed to redraw Faber-Castell’s brand story
MUMBAI: Faber-Castell India has poached Sunaina Haldar from ADF Foods, appointing her director – marketing as the German stationery brand looks to muscle up in a category that is rapidly reinventing itself around creativity and self-expression.
Haldar hit the ground running. “My first couple of weeks have been incredibly energising, understanding consumers, visiting markets, engaging with retailers and immersing myself into the world of Faber-Castell Group,” she said.
She arrives with considerable firepower. At ADF Foods, Haldar ran marketing across India and international markets for a portfolio spanning Ashoka, Aeroplane, Camel and ADF Soul. Before that, she was vice-president – marketing at direct-to-consumer mattress brand SleepyCat, where she helmed brand, content and performance marketing. Her résumé also includes a stint leading marketing, new product development and CRM for Tata SmartFoodz at Tata Consumer Products, no small proving ground.
Between corporate roles, Haldar also operated as a fractional CMO for early-stage startups, building marketing strategy and operational structures from scratch, a signal that she knows how to move fast with limited resources.
With 18 years straddling FMCG, D2C and the startup world, Haldar now takes the reins at a brand that has long owned the classroom but is clearly hungry for the living room. In a stationery market where the pencil has become a lifestyle statement, Faber-Castell has picked someone who knows exactly how to sell that story.
