Nippon Paint offers $8.6bn for Akzo Paints

Acquisition Offer

Nippon Paint, the Japanese paint manufacturer, has made an offer of up to €7.5 billion (approximately $8.6 billion) to acquire the decorative paints business of Akzo Nobel. The offer was reported by Bloomberg on 13 July 2026, citing sources with knowledge of the matter. The transaction would bring global brands such as Dulux under Nippon Paint’s control and is intended to significantly broaden its international footprint.

Background

Earlier in the past year, Akzo Nobel turned down a joint proposal from Nippon Paint and Sherwin‑Williams to purchase the Dutch group. Instead, Akzo Nobel proceeded with a merger agreement with Axalta Coating Systems, indicating its preference for a different strategic partner.

Implications

If accepted, the deal would add Akzo Nobel’s decorative paints assets, including the Dulux brand, to Nippon Paint’s portfolio, enhancing its presence in the global paints and coatings market.