Nippon Paint Acquires Turkish Coatings Company, Makes Bid for Dulux Group
Japan’s Nippon Paint announced the acquisition of the outstanding shares of Betek Boya and its subsidiaries (Betek Group). Headquartered in Istanbul, Betek Group is a manufacturer of decorative and industrial coatings and construction materials. With a significant share of the market in Turkey, Betek Group’s major brands include Filli Boya and Fawori. The acquisition will make Nippon Paint a major player in the Turkish market, with strong growth potential.
In April, Nippon Paint announced the decision to acquire Dulux Group Ltd., a leading paint and coatings manufacturer in Australia and New Zealand. The acquisition requires the approval of Dulux shareholders and governing authorities in Australia and New Zealand. Nippon cited the attractive market in Australia and New Zealand as a reason for the acquisition. The purchase also aligns with the company’s goals of establishing itself as a leading coatings manufacturer in Asia and the Pacific.