Mauritius: Paints and Coatings Akzo Nobel to Acquire Paints Manufacturer Mauvilac
Akzo Nobel has entered into an agreement to acquire 100 % of the shares of Mauvilac Industries Limited, a paints and coatings company in Mauritius.
Amsterdam/The Netherlands — Akzo Nobel plans to strengthen its footprint in Sub-Saharan Afriac. To this end, the company acquires the paints manufacturer Mauvilac in Mauritius. The transaction includes a local production facility, four concept stores and access to a strong distribution network. The planned transaction is expected to be completed in the first half of 2020, subject to customary conditions.
The business generated revenue of around $ 17.9 million in 2018 and is a leading decorative and specialty paints and coatings manufacturer headquartered in Les Pailles, Mauritius. Their portfolio consists of 85 % decorative paints and 15 % coatings, offering a wide range of professional and consumer products. The company was founded in 1964 by Roland Maurel Sr. and in July 2014 private equity fund Adenia acquired 95 % of shares in the company.