Pakistan’s Packages Group to Acquire Akzo Nobel Pakistan

50 Million Euro Deal Pakistan’s Packages Group to Acquire Akzo Nobel Pakistan

2026-04-21 Source: Press release Akzonobel 1 min Reading Time

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Akzonobel has plans to sell Akzo Nobel Pakistan to IGI Investments, part of the Packages Group, one of Pakistan’s most diversified conglomerates for approximately 50 million euros.

Amsterdam/The Netherlands – Akzonobel has signed an agreement to sell Akzo Nobel Pakistan to IGI Investments, which is part of the Packages Group, one of Pakistan’s most diversified conglomerates. The transaction is based on a total enterprise value of 16.2 billion Pakistani rupee (approximately 50 million euros), at an EV/EBITDA multiple of 14x.

The divestment marks the latest phase of Akzonobel’s ongoing strategic portfolio review, which is designed to refocus the company’s capital and capabilities on leading positions in key global markets. Akzo Nobel Pakistan is mainly a Decorative Paints business. Future Coatings activities under Packages Group ownership will be subject to royalties.

“This transaction represents a further step in executing our strategy,” says Greg Poux-Guillaume, CEO of Akzonobel. “We’re proud of the strong business and team we’ve built in Pakistan, and we’re confident that IGI and the Packages Group are well positioned to take it forward and unlock its full potential.”

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Syed Hyder Ali, Chairman of IGI Investments, adds: “We’re pleased to welcome Akzo Nobel Pakistan into the Packages Group. The business has a strong heritage and a talented team, and we see significant opportunities to build on its success. We are committed to investing in the business, supporting its people and further strengthening its position in Pakistan’s paints and coatings industry, while continuing to deliver value to all stakeholders.”

The transaction is subject to customary closing conditions and is expected to be completed in the second half of 2026. The intended divestment follows on from the recent sale of Akzo Nobel India, which was finalized in December 2025.

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