CFI advised Snowcem Paints on its raised equity capital from Bennett Coleman & Co.

Mumbai – CFI India acted as the exclusive corporate finance advisor to Snowcem Paints on the sale of a minority equity stake to Bennett Coleman & Co. Limited.

Bennett Coleman & Co. Limited. provides media publishing services in India and South-Asia. The company publishes newspapers, magazines, and books; operates television channels, radio, and digital businesses; publishes news content on the internet and is specialized in content publishing and other online services. It also provides out-of-home advertising services in India. The company also engages in other activities, such as music, movies, syndication, education, financial services, event management, and specialized publications.

Established in Mumbai in 1959, Snowcem Paints is India’s leading exterior paint manufacturing company. It offers flagship products like water proof cement paints and exterior acrylic emulsions and other auxiliary products like primers, construction admixtures and surface preparation products which are extremely popular. The Company has manufacturing facilities at Rajasthan, Tamil Nadu Maharashtra, and West Bengal. It has Pan India presence with 10 regional offices, 50 stocking points & 3500 dealers. It also acquired Gujarat based company MARIGOLD PAINTS engaged in the manufacturing of industrial & decorative paints with close to 4 decades of experience.

CFI India was hired by Snowcem Paints to identify investors who can provide equity capital to spend on brand building and enhance visibility in the domestic market. CFI India intiated discussions and meetings with many potential Indian investors and ultimately was able to successfully negotiate and close the deal with Bennett & Coleman Co. Limited, which is India’s largest newsprint house.

The transaction closed on 1 January 2017.