Chemical & Allied Products

What Chemical & Allied Products does

Chemical & Allied Products PLC (CAP PLC) is Nigeria's largest paint manufacturer and distributor, operating from Lagos with a footprint spanning 34 Nigerian states and the Federal Capital Territory via 152 retail stores. Founded around 1960, the company operates a dual-brand model: it is the sole technological licensee and distributor of AkzoNobel (Dulux) in Nigeria and the official distributor of Hempel's marine and protective products, while simultaneously manufacturing and distributing proprietary in-house brands Caplux and Sandtex. Its product portfolio is organized into decorative coatings (residential and commercial surface finishing for concrete, wood, brick, and metal) and industrial coatings (corrosion-resistant, chemical-resistant, and extreme-temperature solutions for construction, manufacturing, and marine sectors).

The company's revenue is generated primarily through physical retail sales of paint products, supplemented by authorized distributors and a dedicated direct-sales channel for large-scale construction and industrial projects. Customer engagement is supported by digital tools including the Dulux Visualizer augmented reality app, an online Paint Calculator, and the Painters' Academy training program, alongside a customer loyalty scheme. The company does not disclose pricing publicly. In FY2025, CAP PLC reported revenue of N44.9bn (+23% year-on-year), gross profit of N19.4bn (+32%), and profit before tax of N9.1bn (+51%), with operating margins expanding from 15% to 18%.

CAP PLC is publicly listed on the Nigerian Exchange under the ticker "CAP" with 251–500 employees and no identified parent company, though personnel movements indicate affiliation with the UAC of Nigeria Plc Group. Leadership transitioned in 2026 with Lekan Aluko succeeding Bolarin Okunowo as Managing Director, Jethro Iruobe appointed Executive Director effective 25 June 2026, and Olutola Bella appointed Company Secretary effective 13 July 2026. The company declared a total dividend payout of N3.26bn (N4.00 per share) for FY2025.

Name

Chemical & Allied Products

Legal name

Chemical & Allied Products (CAP PLC)

Website

https://capplc.com

Company type

Public

Founded year

1960

Operating status

Operating

Headcount range

251–500 employees

Short description

Chemical & Allied Products PLC is Nigeria's largest paint manufacturer and distributor, producing and selling Dulux (under AkzoNobel license), Caplux, Sandtex, and Hempel marine coatings via 152 retail stores across 34 Nigerian states, serving construction, industrial, and marine customers.

Ownership category

akta.pro rank

Product category

Paint and Coatings Manufacturing

NAICS

Paint and Coating Manufacturing (325510)

SIC

Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851)

akta.pro primary industry

Industrial & Protective Coatings (IMAEAGAB)

Keywords

• Paint manufacturing
• Decorative coatings
• Industrial coatings
• Marine protective coatings
• Paint distribution

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Paints and Coatings Sales: CAP Plc generates revenue through manufacturing and distribution of decorative and industrial paint products, operating both internationally affiliated brands (Dulux, Hempel) and locally manufactured in-house brands (Caplux, Sandtex).

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Chemical and Allied Products PLC manufactures and distributes decorative and industrial paints and coatings in Nigeria. The company's portfolio includes international brands licensed in (Dulux from AkzoNobel, Hempel for marine/protective use) and proprietary in-house brands (Caplux, Sandtex), serving construction, manufacturing, marine, and consumer decoration markets through an owned retail network and B2B bulk-supply channels.

Product overview

Chemical and Allied Products PLC (CAP PLC) operates as Nigeria's largest paint manufacturer and distributor, offering a portfolio of internationally affiliated and locally manufactured paint brands. The company serves as the sole technological licensee and distributor of AkzoNobel (Dulux) in Nigeria and an official distributor for Hempel's marine and protective products. Its product portfolio includes four main brands: Dulux (premium international paint), Caplux (in-house local brand), Sandtex (exterior/masonry coatings), and Hempel (industrial/marine coatings). These brands are organized across two core segments: Decorative Coatings for residential and commercial surfaces (concrete, wood, brick, metal), and Industrial Coatings designed for harsh environments, corrosion resistance, and extreme temperature applications serving construction, manufacturing, and marine industries.

Differentiator

Problem solved

Functional benefit

Brands

• Dulux: International paint brand represented by CAP as sole technological licensee and distributor of AkzoNobel in Nigeria.
• Caplux
• Sandtex
• Hempel

Products and services

• Dulux Premium international paint brand licensed from AkzoNobel and distributed exclusively in Nigeria by CAP Plc, offering high-quality decorative and industrial coating solutions for residential, commercial, construction, manufacturing, and marine applications.
• Caplux Proprietary in-house paint brand manufactured and distributed by CAP Plc for the Nigerian market, representing locally produced paints and coatings.
• Sandtex Proprietary in-house coating brand offering exterior and masonry paint solutions for various surfaces in the Nigerian market, manufactured and distributed by CAP Plc.
• Hempel Marine and protective coatings brand distributed in Nigeria by CAP Plc under its official distributor partnership with Hempel, serving industrial customers in construction, manufacturing, and marine sectors with anti-corrosion and chemical-resistant surface solutions.
• Decorative Coatings Surface coatings sold under CAP Plc's brand portfolio (Dulux, Caplux, Sandtex) that elevate the appearance of concrete, wood, brick, and metal surfaces in residential and commercial settings while providing protection.
• Industrial Coatings Specialized coatings sold through CAP Plc's industrial brand portfolio (including Hempel) engineered to withstand harsh climates and protect surfaces from corrosion, chemicals, and extreme temperatures in construction, manufacturing, and marine industries.

Quantifiable outcome

• Revenue growth of 23% to N44.9bn in FY2025
• +3 more outcomes

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• AkzoNobelcoreOEM/ Whitelabel/ Licensing PartnerCAP Plc operates as the sole technological licensee and distributor of AkzoNobel products in Nigeria, including the Dulux paint brand. This partnership provides access to international paint formulation technology and globally recognized brand equity, combining premium imported products with locally manufactured offerings.
• HempelcoreChannel Partner/ Reseller/ DistributorCAP Plc serves as official distributor for Hempel's marine and protective products in Nigeria, extending product portfolio to serve maritime and industrial coating customers requiring anti-corrosion and chemical-resistant surface solutions.

Scale indicators9 records

Recent moves7 records

Expansion highlights4 records

Emerging players

• Asian Paints: India's largest decorative paints company and a dominant emerging-market coatings champion. Highly comparable as a home-market-leading decorative brand with growing industrial exposure — the same playbook CAP executes in Nigeria, just at vastly larger scale.
• Berger Paints India: Major decorative and industrial coatings player in India/South Asia with international brand licensing model. Comparable emerging-market, multi-brand decorative coatings franchise with similar growth profile to CAP.

Broad incumbents

• Kansai Paint: Japanese-headquartered global coatings company with significant African and emerging-market decorative/industrial businesses. Comparable as a multi-region, multi-segment coatings manufacturer with growing emerging-market presence.
• Hempel Foundation / Hempel A/S: Danish marine and protective coatings specialist and CAP's official distribution partner for the Nigerian market. Directly comparable in the marine/industrial coatings subsegment — overlapping product line with CAP's industrial coatings business.
• AkzoNobel: Global paints and coatings giant and CAP's sole technological licensor (Dulux brand). AkzoNobel operates across decorative, industrial, marine, and protective coatings worldwide; comparable as the upstream technology and brand owner that CAP licenses from.
• PPG Industries: US-listed global coatings leader across architectural, industrial, marine, and protective segments. Comparable as a multi-segment, brand-driven coatings manufacturer with global scale well beyond CAP's regional footprint.
• Jotun: Norwegian global coatings manufacturer with strong decorative, marine, and protective coatings businesses. Highly comparable to CAP across both segments, including a Hempel-rival marine offering and emerging-market presence.
• Sherwin-Williams: World's largest coatings company with dominant architectural paints franchise and growing industrial coatings. Comparable business model combining retail distribution with industrial specialty coatings — analogous to CAP's dual decorative/industrial posture.
• Nippon Paint Holdings: Asian-led global coatings major with strong emerging-market decorative and automotive/industrial portfolios. Comparable as a diversified decorative + industrial coatings player expanding aggressively outside mature markets.

Regional players

• Meyer Organics / ChemCo (Nigerian peer set): Placeholder noted: there is no single dominant public Nigerian coatings pure-peer; regional players include smaller privately-held Nigerian and West African paint manufacturers competing in decorative coatings. Comparable as direct domestic competitors in the same Nigerian/West African market though with smaller scale than CAP.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/CAP_PLC
• Facebookfacebook.com/cap_plc-110619573944844

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chemical & Allied Products