Financial Daily from THE HINDU group of publications
Thursday, Oct 10, 2002
Financial Daily from THE HINDU group of publications Thursday, Oct 10, 2002 |
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Mergers & Acquisitions Corporate - Mergers & Acquisitions Stronger strokes in decorative paints Nath Balakrishnan
THE acquisition of the paints business of Snowcem India by Berger Paints would provide the latter with a stronger presence in the decorative paints segment. The paint industry has been growing at 7-8 per cent per annum. Within the industry, the exterior paints segment is growing at a higher rate of around 15 to 20 per cent. So an acquisition in this space makes strategic sense for Berger, which is the third largest player in the market, behind Asian Paints and Goodlass Nerolac. Snowcem is a strong brand in the exterior paints market — it has a share of 26 per cent in the cement paint market and 50 per cent in the textured finish market — with established brands such as Sandtex Matt and Snowcem Plus. These factors could provide an impetus to Berger's topline, apart from driving market share growth.
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