AkzoNobel has agreed to acquire 100 percent of the shares of Mauvilac Industries Limited, a paints and coatings company in Mauritius. The transaction includes a local production facility, four concept stores and access to a distribution network.
Headquartered in Les Pailles, Mauritius, Mauvilac generated revenue of approximately €20 million in 2018 and is a decorative and specialty paints and coatings manufacturer. Its portfolio is 85 percent decorative paints and 15 percent coatings.
“Mauvilac is a leading company in Mauritius and the proud owner of the best-known paint brand on the island,” AkzoNobel CEO Thierry Vanlancker said. “We look forward to adding such a strong brand to our world-class portfolio and welcoming the employees from Mauvilac to the AkzoNobel family.”
Mauvilac CEO, Laurent Roussel added that both companies have a strong passion for quality, innovation and sustainability, and the two companies will create a promising future for all.
The planned transaction is expected to be completed in the first half of 2020, subject to customary conditions.
The post AkzoNobel to Acquire Mauvilac appeared first on American Coatings Association.
from American Coatings Association https://www.paint.org/akzonobel-to-acquire-mauvilac/
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