Nippon Paint Group to acquire Akzo Nobel’s decorative paints businesses across Asia Pacific
Nippon Paint Group has signed definitive agreements to acquire Akzo Nobel’s decorative paints subsidiaries in Vietnam, Malaysia and Singapore; a 100% interest in Akzo Nobel’s decorative paints joint venture in Indonesia from Akzo Nobel and its partner; and Akzo Nobel’s decorative paints business operations in Thailand, Australia and Papua New Guinea.
Valued at USD 1.35 billion, the agreements were signed on 3 October 2026. Closings are expected to take place in late 2026 for Indonesia and mid-2027 for the other regions, subject to regulatory approvals and completion of carve-out procedures.*
Nippon Paint believes Akzo Nobel’s decorative paints businesses have a well-established foundation in the region, supported by recognised brands, established customer relationships, and manufacturing and supply systems.
The acquisitions will also add the Dulux brand to Nippon Paint Group’s portfolio in Southeast Asia, broadening the range of products available to customers.
Expanding capabilities and product offerings
Nippon Paint expects the acquisitions to support product availability, customer choice and service in the markets concerned.
The transactions will bring additional manufacturing and R&D capabilities to Nippon Paint Group’s regional operations, including three production sites and an R&D Centre in Malaysia.
Following completion, the acquisitions also present opportunities to enhance operational efficiencies across areas such as manufacturing, supply chain and logistics.
“These acquisitions reflect our confidence in the future of our business, our markets, and most importantly, our people. Southeast Asia is a region of resilient growth, and we look forward to welcoming these businesses to the Group.”
Following completion, both organisations will work to ensure a smooth transition and business continuity.
For further details on the transactions, please refer to the official acquisitions notice issued by Nippon Paint Holdings Co., Ltd.
* Carve-out refers to the process of separating the target business from Akzo Nobel in preparation for its sale or transfer.
