Kansai Plascon Africa, a subsidiary of Japan-based Kansai Paint, will acquire 100% of East African paint distributor 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.
“We are extremely excited about the acquisition of Sadolin. Our 2020 vision is 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 Plascon Africa CEO Farid Masood said in a statement on Thursday.