AkzoNobel Pakistan Sale Completed
AkzoNobel has completed the sale of Akzo Nobel Pakistan Limited to IGI Investments (Pvt.) Limited, a company within the Packages Group, marking the completion of the transaction announced as part of the Dutch coatings company’s ongoing portfolio review.
The transaction has a total enterprise value of approximately €50 million, equivalent to around PKR 16.2 billion, and represents an EV/EBITDA multiple of 14x.
The deal includes AkzoNobel’s Decorative Paints and liquid Coatings businesses in Pakistan.
Packages Group Adds AkzoNobel Pakistan to Its Portfolio
The acquisition brings AkzoNobel Pakistan into the Packages Group, one of Pakistan’s diversified business groups.
Syed Hyder Ali, CEO and Managing Director of Packages Limited, said the acquisition represents an important milestone in the group’s efforts to build and strengthen businesses in Pakistan with established brands, market positions and long-term growth potential.
He also said the group’s immediate priority would be continuity for employees, customers, distributors and business partners following the transaction.
AkzoNobel Continues Strategic Portfolio Review
AkzoNobel CEO Greg Poux-Guillaume described the closing as another milestone in the company’s ongoing strategic portfolio review.
He said AkzoNobel appreciated the contribution of its employees in Pakistan and expressed confidence that the Packages Group was positioned to take the business into its next phase of growth, given its presence in Pakistan’s consumer and industrial markets.
The completion of the transaction marks the transfer of ownership of Akzo Nobel Pakistan Limited to IGI Investments.
Sale Part of AkzoNobel’s Portfolio Refocus
The divestment forms part of AkzoNobel’s broader portfolio refocus, which is currently centered on the company’s Decorative Paints positions in Southeast Asia.
The sale follows AkzoNobel’s divestment of Akzo Nobel India Limited, which was completed in December 2025.
The Pakistan transaction allows Packages Group to expand its portfolio while AkzoNobel continues to streamline its business interests in line with its strategic portfolio review.
Transaction Brings Two Established Business Groups Together
The acquisition combines AkzoNobel Pakistan’s established Decorative Paints and liquid Coatings operations with the Packages Group’s existing presence in Pakistan’s consumer and industrial sectors.
The new ownership will focus initially on maintaining continuity across the business while providing a platform for the acquired operations to continue developing within the Packages Group.