Berger Paints has entered into a formal “business transfer agreement” with its joint venture BNB Coating India. BNB is understood to have entered a similar agreement with Nippon Paint (India) for transfer of its four wheeler car body paint business. However, the valuations of respective businesses, which are being added to BNB, have been kept undisclosed.
BNB Coatings is a 51:49 per cent joint venture between NPAU and Berger Paints, respectively.
Berger Paints India is the second largest paint company in the country with a consistent track record of being one of the fastest growing paint company, quarter on quarter, for the past few years.
