Berger Paints India to acquire Sherwin Williams unit
PTI: New Delhi, Mar 11 2013, 15:27 IST
Berger Paints today said it will acquire the architectural operations of Sherwin Williams Paints India for an undisclosed sum. The acquisition will be carried out through Berger's wholly-owned subsidiary, Brushworks Paints Ltd, the company said in a filing to the BSE.
Commenting on the development, Berger Paints India Chairman K S Dhingra said: "This transaction will significantly increase our presence in key markets, it builds on our strategy to grow our architectural paint business throughout India..."
Berger Paints manufactures and markets a range of decorative and industrial paints in India. It has seven manufacturing plants.
The company's scrips were trading at Rs 206.10 per share in the afternoon trade, up 2.28 per cent from the previous close on the BSE.
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