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The global paints and coatings industry is undergoing a new phase of consolidation. On July 13, 2026, Nippon Paint Holdings confirmed that it had offered 7.5 billion euros to acquire AkzoNobel?s decorative paints business. The Dutch group quickly rejected the offer, while reaffirming its commitment to completing its merger with the American company Axalta Coating Systems.
A New Targeted Initiative by Nippon Paint
After attempting, alongside Sherwin Williams, to acquire the entire AkzoNobel group in the spring of 2026, Nippon Paint is changing its strategy. The Japanese group is now focusing its interest solely on the decorative paints division, with an offer of 7.5 billion euros.
Nippon Paint notes, however, that no final decision has been made and that this proposal remains conditional and non-binding.
AkzoNobel is moving forward with its planned merger with Axalta
AkzoNobel believes that this new offer does not reflect the true value of its decorative paints business. In a press release, the board of directors unanimously reaffirmed its support for the merger with Axalta, which is being presented as a merger of equals.
The group also notes that the contractual commitments made as part of this transaction limit its ability to enter into discussions with Nippon Paint.
A consolidation that also affects the boating industry's suppliers
Although these operations primarily involve the global coatings market, they are closely monitored by the recreational boating industry. AkzoNobel is one of the leading suppliers of paints and protective solutions used in shipbuilding, refit, and boat maintenance.
Any changes in the ownership structure or organizational structure of these major groups may have an impact on product lines, distribution networks, or industrial investments?issues closely monitored by shipyards and equipment manufacturers.
Shareholders are set to vote in August
The timeline for the merger between AkzoNobel and Axalta is proceeding as planned. According to several financial media outlets, the annual shareholder meetings of both companies are scheduled for August 5, 2026, to vote on the merger.
Until that deadline, AkzoNobel's position remains unchanged. The company considers Nippon Paint's offer to be insufficient and confirms that its strategic plan remains the merger with Axalta.
