AkzoNobel agreed to acquire 100% of the shares of Mauvilac Industries Limited (Mauritius). Mauvilac is into decorative paints (85%) an coatings (15%) market. 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.
Mauvilac is the leading paints & coating company in Mauritius, and adding such a strong brand to AkzoNobel’s portfolio is expected to increase its market presence and share in the APAC region. Mauvilac is a flagship brand in Mauritius and has been developed for the last 50 years and has also generated revenue of around €20 million in 2018.