JK Cement buys controlling stake in Acro Paints for Rs.153-Cr

JK Cement, through JK Paints and Coatings, has acquired a controlling stake in Bhiwadi, NCR -based Acro Paints for INR 153 crore. Acro Paints is a manufacturer of architectural and high-performance paints and coatings. Promoters Charanjeet Gaind and Ashok Gaind will continue to remain on the board of Acro Paints. Acro Paints has two manufacturing facilities with a post-expansion capacity of 60,000 kilolitres in decorative and textured paints and 6,700 kilolitres in construction chemicals.