Berger Paints India Ltd. has agreed to acquire the architectural operations of Sherwin Williams Paints India Pvt. Ltd., for an undisclosed sum, through its wholly-owned subsidiary firm Brushworks Paints Ltd.
Berger Paint's Chairman K.S. Dhingra commented, "This transaction will significantly increase our presence in key markets, it builds on our strategy to grow our architectural paint business throughout India and it brings a high quality, committed team of employees to Berger Paints India Ltd. We are proud to welcome such a well-respected team into the Berger family."
The company manufactures and markets a range of decorative and industrial paint products and has operations throughout India with seven manufacturing facilities, over 135 depots, over 2500 employees and more than 15,000 dealers.
At the BSE, Berger Paints India shares are currently trading at a new high of Rs.207.65, up 3.05 percent from the previous close.
by RTT Staff Writer
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