IGI Investments (Pvt.) Limited, a key subsidiary of Pakistan’s diversified Packages Group, has successfully completed its acquisition of Akzo Nobel Pakistan Limited. The transaction, valued at approximately PKR 16.2 billion (€50 million), marks a significant strategic move for both entities in the Pakistani market.
This acquisition integrates AkzoNobel’s established decorative paints and liquid coatings businesses into Packages Group’s expanding portfolio, signaling a renewed focus on high-quality brands within Pakistan’s consumer and industrial sectors. For AkzoNobel, the divestment aligns with its ongoing global strategic portfolio review, concentrating on core markets.
By SarmayaNext Corporate & Business Desk • ✓ Fact-Checked • Published October 2026
IGI Investments Completes Rs16.2 Billion Akzo Nobel Pakistan Acquisition
IGI Investments (Pvt.) Limited, a Packages Group subsidiary, has completed the acquisition of Akzo Nobel Pakistan Limited for approximately PKR 16.2 billion (€50 million). This strategic move expands Packages Group’s presence in Pakistan’s consumer and industrial markets, while AkzoNobel continues its global portfolio refocus.
The acquisition of Akzo Nobel Pakistan Limited by IGI Investments (Pvt.) Limited, a part of the Packages Group, was finalized on September 29, 2026. The deal, based on a total enterprise value of approximately PKR 16.2 billion, which translates to about €50 million, represents a 14x EV/EBITDA multiple.
This transaction encompasses AkzoNobel’s entire Decorative Paints business and its liquid Coatings businesses operating within Pakistan. The move is a direct outcome of AkzoNobel’s broader strategic portfolio review, which has seen the company streamline its global operations, including the sale of Akzo Nobel India Limited in December 2025. AkzoNobel’s current strategic focus for its Decorative Paints division is centered on South East Asia.
Packages Group, recognized as one of Pakistan’s most diversified conglomerates, has stated its immediate priority post-acquisition is to ensure seamless continuity for all employees, customers, distributors, and partners of Akzo Nobel Pakistan. This commitment underscores the group’s intent to integrate the acquired businesses smoothly while preserving their operational integrity and market relationships.
Akzo Nobel Pakistan Acquisition: Key Financials
| Metric | Value | Unit | Context |
|---|---|---|---|
| Enterprise Value | PKR 16.2 billion | PKR | Akzo Nobel Pakistan sale |
| Enterprise Value | approximately €50 million | EUR | Akzo Nobel Pakistan sale |
| EV/EBITDA Multiple | 14x | multiple | Akzo Nobel Pakistan sale |
Strategic Implications for Pakistan’s Paints & Coatings Market
The acquisition of Akzo Nobel Pakistan by IGI Investments represents a significant consolidation within Pakistan’s paints and coatings industry. For Packages Group, this move strategically expands its footprint in both the consumer and industrial markets with established brands, leveraging Akzo Nobel Pakistan’s long-standing presence and product lines. This could lead to enhanced market share and diversified revenue streams for the conglomerate, strengthening its overall portfolio.
From AkzoNobel’s perspective, the divestment is a calculated step in its global strategy to optimize its portfolio. By shedding non-core assets, the company aims to sharpen its focus on key regions and product categories, particularly its Decorative Paints positions in South East Asia. This allows AkzoNobel to reallocate resources and capital towards areas with higher strategic alignment and growth potential, as articulated by CEO Greg Poux-Guillaume.
The transaction also highlights the ongoing attractiveness of Pakistan’s market for strategic investments, particularly for domestic conglomerates like Packages Group. Such acquisitions by local players can bolster the national economy by retaining profits within the country and fostering local expertise. Investors tracking the Pakistan Stock Exchange (PSX) will likely view this as a positive indicator of corporate confidence and growth potential within the industrial and consumer goods sectors.
The emphasis on continuity by Packages Group CEO Syed Hyder Ali suggests a stable transition for the acquired business, minimizing disruption for stakeholders. This approach is crucial for maintaining brand loyalty and operational efficiency, ensuring that the integration process adds value without alienating existing customer bases or talent. The long-term success of this acquisition will depend on how effectively Packages Group can leverage Akzo Nobel Pakistan’s established market position and integrate it into its broader strategic vision.
Frequently Asked Questions About IGI Investments completes Rs15
What is the latest update on IGI Investments’ acquisition of Akzo Nobel Pakistan?
IGI Investments (Pvt.) Limited, a subsidiary of Packages Group, completed its acquisition of Akzo Nobel Pakistan Limited on September 29, 2026. The transaction was valued at approximately PKR 16.2 billion (€50 million), integrating AkzoNobel’s decorative paints and liquid coatings businesses into Packages Group’s portfolio.
What businesses are included in the Akzo Nobel Pakistan acquisition?
The acquisition by IGI Investments includes AkzoNobel’s entire Decorative Paints business and its liquid Coatings businesses operating within Pakistan. This strategic move aims to expand Packages Group’s presence in both the consumer and industrial markets with established brands and product lines.
Why did AkzoNobel sell its Pakistan operations?
AkzoNobel sold its Pakistan operations as part of an ongoing strategic portfolio review, aiming to streamline its global business. The company is refocusing its Decorative Paints positions primarily on South East Asia, having also completed the sale of Akzo Nobel India Limited in December 2025.
“Today’s closing is another important milestone in the execution of our ongoing strategic portfolio review.” — Greg Poux-Guillaume
“We’re grateful to our colleagues in Pakistan for the passion and commitment they’ve shown and have every confidence that the Packages Group, with its deep roots in Pakistan’s consumer and industrial markets, is ideally placed to take the business to its next stage of growth.” — Greg Poux-Guillaume
“We’re very pleased to welcome AkzoNobel Pakistan into the Packages Group. This acquisition represents an important milestone in our journey to build and strengthen high quality businesses in Pakistan with trusted brands, strong market positions and long-term growth potential.” — Syed Hyder Ali
PS: For educational and informational purposes only. Not financial advice. Investing involves risk — consult a qualified financial advisor before making investment decisions.