Berger Paints completes acquisition of Poland-based Bolix SA

Berger Paints completes acquisition of Poland-based Bolix SABerger Paints India Limited, Country's leading paint-maker has finally completed acquisition of Poland-based Bolix SA. The company acquired Bolix in April from private equity group Advent International for $34.8 million with its internal resources. Bolix SA is a leading provider of External Insulation Finishing Systems (EIFS). It is the largest provider of EIFS in the B2B segment in Poland and also exports to neighboring countries such as Ukraine, Russia, Lithuania, Latvia, Estonia and other European countries. The deal will enable Berger to sell Bolix's energy-saving paints in India. Apart from these, Berger Paints plans to raise paint prices by August to offset rising crude prices. The aggregate price revision after the August hike would be 15-20 percent for solvent-based paints and 5-8 percent for water-based paints

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