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Berger International sells Caribbean business to ANSA Coatings

Combined net sales of Caribbean business of Berger, a part of Asian Paints, is estimated at $ 35 mn

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Last Updated : Jun 19 2017 | 1:21 PM IST

Berger International Private Limited (BIPL), the Singapore-based indirect subsidiary of Asian Paints, has sold its entire stake in Lewis Berger (Overseas Holdings) Limited (LBOH), BIPL’s wholly owned subsidiary, to St. Lucia-based ANSA Coatings International Limited for an undisclosed sum. ANSA Coatings is a subsidiary of the ANSA McAL Group, a diversified conglomerate which operates across eight industrial sectors.

LBOH is a privately held UK company with equity-ownership stakes of 100 percent, 70 percent and 51 percent in Berger Paints Barbados Limited, Berger Paints Trinidad Limited and Berger Paints Jamaica Limited respectively. The combined Berger Caribbean business has estimated net sales of $ 35 million (about Rs 216 crores).

“The acquisition of LBOH will further enhance the group’s position in the Caribbean architectural coatings market. Berger is best known for its well-positioned paint brands throughout the region. The architectural coatings industry has enjoyed a period of healthy innovation over the last decade. Through this acquisition, we hope to address an expanded customer base with a broader suite of product offerings and superior levels of customer service and support,” said Norman Sabga, group chairman and chief executive, ANSA McAL Group of Companies, in a statement.