KUALA LUMPUR: Global paints and coating company AkzoNobel has acquired Malaysian paints and coatings manufacturer Colourland Paints Sdn Bhd.
In a statement, AkzoNobel said the acquisition will see the inclusion of the local brand in its global portfolio and better serve the needs of its customers.
According to its website, Colourland Paints started in 1999 in Johor Bahru and expanded over the years to an 8.5-acre factory with more than 2,000 dealers and an annual turnover exceeding RM80mil.
“As a leading global paints and coatings company we are proud to add the well-established brands and expertise of Colourland Paints to our business,” said AkzoNobel CEO Thierry Vanlancker. “We are looking forward to unlocking the value it will bring and increasing our footprint in this fast-growing region.”
"The acquisition of Colourland Paints marks another milestone in ensuring that we continue to deliver the best brand and customer experience. The combination of global and local expertise is an excellent strategic fit and will accelerate our development and further build our strong market position in Malaysia,” said managing director of AkzoNobel Decorative Paints, South East & South Asia, Middle East Oscar Wezeenbek.
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