Berger Paints India acquires architectural business of of Sherwin Williams Paints India
11 March 2013
Berger Paints India, the country's second-largest decorative paint manufacturer, today struck a deal to acquire the architectural operations of Sherwin Williams Paints India Pvt Ltd, for an undisclosed sum.
Berger Paints carried out the acquisition through its wholly owned subsidiary, Brushworks Paints Ltd, the Berger said in a filing with the Bombay Stock Exchange.
''This transaction will significantly increase the company's presence in key markets, it builds on our strategy to grow our architectural paint business throughout India and it brings a high quality, committed team of employees to the company,'' Kolkata-based Berger Paints said in a statement.
Headquartered in Mumbai, Sherwin Williams Paints India is a leading manufacturer and distributor especially in western India of exterior specialty paints and coatings used in the construction of office buildings, high rise apartments, shopping malls, hospitals and schools.
Berger Paints India, majority held by Delhi-based Dhingra brothers, has seven manufacturing plants and an annual turnover of around Rs2,400 crore.