Berger Paints vying for overseas acquisition
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Berger Paints India is vying for an acquisition of a specialty decorative paint maker in South Asia, the company is in talks with the speciality decorative maker from last 7-8 months. Further, the company is not ruling out the possibility of a domestic purchase too.
Berger Paints has required funds for the acquisition and has appointed Ernst and Young to advise on the deal.
The company, which already has an international presence through subsidiary firms in Nepal, Poland and Russia, intends to spend between Rs 250-300 crore on capacity expansion over the next five years to double its production to about 5,00,000 tonne per annum.
Recently the company acquired 48 acre of land at Hindupur in Andhra Pradesh to set up a 150,000 kilolitre per annum plant with an investment of about Rs 125 crore.
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