Berger Paints Ltd. is planning to acquire the architectural operations of Sherwin Williams Paints India through its wholly-owned subsidiary, Brushworks Paints Ltd., in a bid to build its architectural paints business.
In a filing on the exchanges, the company said that it had agreed to acquire the architectural operations of Sherwin Williams Paints India Private Ltd., for an undisclosed sum.
Berger Paints Chairman K S Dhingra said that this transaction would significantly increase the company’s presence in key markets and would strengthen its strategy to grow this segment. “It brings a high quality team of employees to Berger Paints India, ” he said.
The U.S.-based Sherwin Paints entered India in 2007 through the acquisition of NITCO Paints, an unlisted company. The centuries-old Sherwin, which is among the world’s largest paint-makers, has a presence in a spectrum of products including architectural paints, protective and marine paints, automotive and aerospace paints.
Berger was founded in 1923, and is among the leaders in the Indian paint market. It manufactures and markets a range of decorative and industrial paintsthrough its seven manufacturing units.
