Nippon Paint Reportedly Offers Up to €7.5 Billion for Akzo Nobel Decorative Paints Business

Nippon Paint has reportedly made several acquisition offers for Akzo Nobel’s decorative paints business over the past month, signaling the Japanese coatings giant’s ambition to strengthen its global presence through a major international deal.

According to a Bloomberg report citing people familiar with the matter, Nippon Paint’s highest bid reached approximately 7.5 billion euros (about $8.6 billion). If completed, the acquisition would significantly expand the company’s portfolio by adding globally recognized paint brands, including Dulux, one of Akzo Nobel’s flagship decorative paint businesses.

The reported offers reflect Nippon Paint’s broader strategy of accelerating international growth through acquisitions. Gaining control of Akzo Nobel’s decorative paints division would provide the company with a stronger foothold in key global markets and enhance its competitive position in the worldwide paints and coatings industry.

Akzo Nobel has previously attracted takeover interest from Nippon Paint. Over the past year, the Dutch paint manufacturer rejected joint acquisition proposals submitted by Nippon Paint and U.S.-based Sherwin-Williams. Rather than pursuing those offers, Akzo Nobel chose to move forward with a merger involving Axalta Coating Systems, underscoring its preference for an alternative strategic direction.

The latest report suggests Nippon Paint remains interested in expanding its international business despite earlier setbacks. However, it remains unclear whether Akzo Nobel is willing to reconsider selling its decorative paints division or whether negotiations are continuing.

The potential acquisition is being closely watched by investors and industry analysts, as it could reshape competition in the global paints and coatings market. A successful transaction would give Nippon Paint access to well-established consumer brands, broader geographic reach, and additional growth opportunities across both mature and emerging markets.

Neither company has publicly confirmed the reported discussions. As of now, the Bloomberg report indicates only that multiple offers were made, with the highest bid valued at 7.5 billion euros. Market participants will be closely monitoring any official statements or developments that could determine the future of one of the industry's most closely watched potential deals.