Construction Industry News
Asian Paints has announced the acquisition of two businesses, one in decorative lighting and the other in windows. Both are small acquisitions to enable the company's foray into the two new segments.
Nine years ago, the company moved into modular kitchens through the acquisition of Sleek Kitchen and a year later into bathroom faucets through Ess Ess bath faucets. They both contributed just 2.5% to the company's revenue for the nine months ended December 2021.
It is not known whether the latest acquisitions will make a big difference to the overall company. The company plans to expand its presence by being involved in baths, furnishings, kitchen, furnishings and lighting. Asian Paints wants to go from a decorative paint company to a complete home decoration company and the acquisitions are the steps being taken in that direction.
During the pandemic, Asian Paints introduced hand and surface cleaners, putting it in direct competition with Hindustan Unilever, Godrej Consumer Products and Reckitt Benckiser.
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