Emaar Industries & Investments (EII) has acquired a 52 per cent stake in Caparol, the Dubai-based arm of German paint manufacturer Deutsche Amphibolin Werke (DAW) Group. The acquisition takes the number of EII subsidiaries to 12.
EII will steer the market expansion of Caparol, throughout the Middle East and North Africa. “We now have a strong emphasis on bringing products and technologies to local markets,” a Caparol spokesman tells MEED. The value of the deal has not been disclosed. It is expected to be completed in the next six to eight weeks.
Caparol, headquartered in Ober-Ramstadt, Germany, has an annual turnover of €1bn ($1.5bn). The company’s Dubai operation was established in 1998.
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