AkzoNobel Strengthens Position in Sub-Saharan African Paint Market
AMSTERDAM — AkzoNobel has entered into an agreement to acquire 100% of the shares of Mauvilac Industries Limited, a leading paint and coatings company in Mauritius. The transaction includes a local production facility, four concept stores and access to a strong distribution network.
The business generated revenue of around €20 million in 2018 and is a leading decorative and specialty paints and coatings manufacturer headquartered in Les Pailles, Mauritius. Its portfolio consists of 85% decorative paints and 15% coatings, offering a wide range of professional and consumer products. Roland Maurel Sr. founded the company in 1964, and in July 2014 private equity fund Adenia acquired 95% of shares in the company.