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Kansai Plascon Africa Limited, a subsidiary of Kansai Paint Co, announced on 7 February, a binding agreement for the acquisition of 100 per cent of Sadolin Paints’ operations in Kenya, Uganda, Tanzania, Zanzibar, and Burundi
The completion of the transaction is subject to regulatory approvals and other customary conditions. As part of the transaction, the parties have also agreed to separately investigate the acquisition of Sadolin Paints’ operations in Rwanda.
Farid Masood, KPAL CEO said, “We are extremely excited about the acquisition of Sadolin! Our 2020 vision is now being translated into reality as we evolve from a Southern African focused company to becoming a Pan African company, embracing the challenges and diversity of the continent. Kansai’s strong brand heritage, global technical capability, and trusted performance coupled with Sadolin’s respected reputation and presence in East Africa, will definitely strengthen our position as the leading paint company in Africa, enhancing our future growth and performance.”
KPAL believes that the benefits of the transaction will extend to all stakeholders of KPAL and Sadolin Paints, including distributors and other business partners. KPAL intends to work closely with Sadolin Paints’ management and staff to ensure the continuity of the business and services offered to Sadolin Paints’ valued customers, and to maintain its position as a market leader in the East African markets.