ANSA McAL SET TO ACQUIRE LEWIS BERGER (OVERSEAS HOLDINGS) LIMITED (LBOH)

The ANSA McAL Group disclosed their wholly-owned subsidiary ANSA Coatings International has signed a definitive agreement to acquire Lewis Berger (Overseas Holdings) Limited (LBOH) from Berger International Private Limited (BIPL), in an all-cash transaction, for an undisclosed sum, subject to customary closing conditions, including regulatory approvals. The transaction is expected to close in the third quarter of calendar year 2017.

LBOH is a privately held UK company with equity-ownership stakes of 100%, 70% and 51% 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 US$35 million.

Speaking about the pending transaction, Group Chairman and Chief Executive of the ANSA McAL Group of Companies, Mr. A. Norman Sabga noted that 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”, Mr Sabga concluded.

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