M&A
Asian Paints acquires addl 11% stake in home decor player White Teak for Rs.54-Cr
Publicly listed Asian Paints Ltd has hikes its stake in Bengaluru-headquartered home decor brand White Teak (operated by Obgenix Software Private Limited) to 60%, by acquiring an additional 11% stake for INR 54 crore. The remaining 40% stake would be acquired during FY 2026, for a maximum consideration of INR 360 crore. White Teak designs and markets all types and descriptions of decorative lighting products and fans. Asian Paints had acquired 49% stake in the company for INR 180 crore in April 2022, including an earn-out of up to INR 114 crores. Of the earn out, about INR 59.5 crore has been paid to the promoters of White Teak. White Teak had reported a turnover of INR 108.5 crore in the fiscal year 2023, up from INR 57 crore in FY22
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