Berger Paints acquires architectural paints business Sherwin Williams Paints India

Berger Paints acquires architectural paints business of Sherwin Williams Paints India

5:40 AM, 12th March 2013
Berger Paints acquires architectural paints business of Sherwin Williams Paints India

MUMBAI, INDIA: Berger Paints India has acquired the architectural paints business of Sherwin Williams Paints India for an undisclosed amount. The acquisition will be carried out through the Kolkata-based company’s wholly-owned subsidiary, Brushworks Paints. The number two player in the Indian paint industry by turnover will fund the acquisition through internal accruals, said Abhijeet Roy, Managing Director, Berger Paints.

“We have only acquired a part of their business and not the company. We can use the brand for some years and employees of this business will also remain with us for some years,” added Roy.

© The Economic Times News 

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