Akzo Nobel has disclosed that its decision to sell the majority stake of its Indian decorative paints business to JSW Paints was driven by JSW’s deep local expertise, ethical transparency, and robust execution capabilities. According to CEO Greg Poux‑Guillaume, the Dutch coatings giant considered multiple suitors but chose JSW for its alignment with Akzo’s values and growth vision. “We had options. It was really about finding not only the right home for our people but the right partner…we chose JSW,” he remarked, underscoring JSW’s readiness to fully invest in the brand potential of Dulux and other premium product lines.
Poux‑Guillaume further explained that while Akzo Nobel held strong brand equity and global product quality, it lacked the critical “local firepower” to scale in India’s competitive paint landscape. As a multinational, the firm often found itself distracted and under-leveraging its high-value assets in the market. JSW Paints, guided by Parth Jindal’s leadership, demonstrated the strategic appetite and operational ambition to transform that latent potential into substantial market share gains.
The Dutch CEO expressed confidence that this partnership would strengthen JSW Paints: “Parth is being modest. Number three in the market is not far from his grasp, and I’m sure I’ll be back to celebrate that soon.” JSW Paints has indeed set ambitious targets, aiming to consolidate a top three position in India’s paint sector, competing directly with giants like Asian Paints and Berger Paints.
Importantly, Akzo Nobel isn’t completely exiting India. The deal ensures retention of its powder coatings business and R&D centre, and the company will continue as JSW’s technology partner, receiving royalties. It will also explore avenues in aerospace, marine, and other coating segments in collaboration with JSW, signaling a structured long-term alliance rather than a simple divestiture.
This strategic sale-valued at around €1.4 billion (₹8,986 crore)-marks a pivotal moment in the Indian paints sector, enabling JSW to scale rapidly while ensuring Akzo continues to leverage its core strengths through innovation and industrial-grade coatings.
