Asian Paints, India's leading paint manufacturer, has officially taken complete ownership of White Teak, a premium lighting and home décor brand, by acquiring the remaining 40% stake in the company for ₹188 crore. The announcement was made via a regulatory filing to the Bombay Stock Exchange (BSE) late on June 27, 2025, marking a key milestone in the company's ongoing diversification strategy.

This final acquisition brings White Teak — operated by Obgenix Software Pvt Ltd — fully under the Asian Paints umbrella, turning it into a wholly owned subsidiary. The deal signifies Asian Paints’ commitment to becoming a holistic provider of end-to-end home décor solutions, expanding its product line well beyond paints into lighting and accessories.

Timeline of the White Teak Acquisition

Asian Paints’ journey with White Teak began in April 2022, when it acquired 49% equity in the brand from its founders Pawan Mehta and Gagan Mehta. A year later, in April 2023, it increased its stake by another 11%, reflecting the company’s growing confidence in the home décor market.

Now, with the remaining 40% stake being acquired in June 2025 for ₹188 crore, the transaction values White Teak at approximately ₹470 crore — a testament to its perceived market potential and strategic relevance in Asian Paints’ broader business vision.

Strategic Significance of the Deal

Asian Paints stated that the acquisition aligns with its vision to enhance offerings in the home décor space. With increased consumer spending on premium lifestyle interiors, the brand intends to integrate decorative lighting solutions seamlessly alongside its core paints and coatings business.

By bringing White Teak fully under its control, Asian Paints will now be able to:

• Leverage cross-selling opportunities in retail and e-commerce channels

• Integrate design and innovation across paint and décor solutions

• Expand White Teak’s reach across urban and semi-urban markets using Asian Paints' robust distribution network

Market Response and Share Movement

The market responded positively to the announcement. On June 27, 2025, shares of Asian Paints surged by 3.01%, closing at ₹2,358.7 apiece on the BSE. The rise reflects investor confidence in the company’s diversification strategy, even as it faces headwinds in its core decorative paints business.

Asian Paints’ Q4 FY25 Performance Overview

Despite the strategic expansion, Asian Paints reported subdued financial results for the quarter ending March 2025:

• Volume growth in the decorative segment was limited to 1.8%, falling short of analyst expectations

• Net profit for the January–March 2025 quarter declined by 45% year-on-year, coming in at ₹700.8 crore

The dip in quarterly performance highlights the challenges faced in its core segment, making diversification into high-margin lifestyle categories like lighting even more critical.

White Teak’s Market Position

White Teak, since its inception, has emerged as a prominent brand in the luxury lighting and home décor segment, offering a curated portfolio of:

• Designer chandeliers and pendant lights

• Decorative ceiling and wall lights

• Sculptural and statement lamps

• Premium home accessories

The brand’s presence in both offline experiential stores and online platforms has given it a unique edge in addressing urban consumer preferences. Asian Paints aims to scale White Teak’s operations, expand product innovation, and increase touchpoints across India.

Industry-Wide M&A Momentum

Asian Paints’ full acquisition of White Teak follows a flurry of strategic mergers and acquisitions in the Indian paints and coatings industry.

Most notably, on the same day, JSW Paints announced a landmark acquisition of Akzo Nobel India, acquiring a 74.76% stake for ₹8,986 crore, with an open offer to buy an additional 25% for ₹3,929 crore, totaling over ₹12,915 crore. The JSW-Akzo deal is one of the largest transactions in India's paint sector, marginally trailing Sumitomo Mitsui Banking Corp’s acquisition of a 20% stake in Yes Bank for ₹13,483 crore.

These industry shifts indicate a consolidation phase in Indian home improvement and paints sectors, with companies racing to:

• Expand their consumer base

• Introduce high-margin product lines

• Enhance brand positioning in lifestyle categories

Looking Ahead: What It Means for Asian Paints

With the complete acquisition of White Teak, Asian Paints now gains:

• Full control over operations and strategy of the lighting brand

• The ability to drive deeper brand synergies in the home décor market

• A foothold into adjacent premium lifestyle segments

• Better integration across in-store experiences, interior design services, and curated collections

This move is expected to help Asian Paints strengthen its brand equity and offset pressures from slowing volume growth in its primary paints business. By 2026, analysts expect White Teak to contribute meaningfully to the company’s non-paints revenue stream.

Conclusion

The ₹188 crore deal for the remaining stake in White Teak marks an important strategic move for Asian Paints. As the company continues to broaden its portfolio into high-growth lifestyle categories, this acquisition underscores its ambitions to lead not just in paints, but in holistic home transformation.

Despite short-term challenges in core decorative paints, Asian Paints’ focus on innovation, consumer experience, and product diversification is expected to pay long-term dividends, making it one of the most resilient and future-ready players in India’s home improvement ecosystem.

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