Mumbai, Nov 9 :    Mumbai, Nov 9:  A day after commissioning a plant in Oman as a joint venture partner, Asian Paints (India) Ltd (APIL) today acquired the entire paints business of Pacific Paints Co Pty Ltd of Australia for over Rs 9 crore (Australian $ 375,000). The acquisition was made through its subsidiary in Australia. 'This will boost our existing operations in that country and the Australian unit will be able to leverage the acquired company's brands. Pacific Paints' brands are quite popular in Queensland which has a Australian $ 231 million market,' Ashwin Dani, vice-chairman and managing director of Asian Paints said. Pacific Paints, although a very small player, has some brands which are popular in the state of Queensland, Australia. 'Asian Paints is already the leader in four other South Pacific countries and the acquisition is a step to becoming a paint powerhouse in the region,' Dani added. This is the paint major's second overseas acquisition in a year. Recently, the company acquired the second largest paint maker in Sri Lanka. Within a year-and-a-half, Asian Paints has already entered three new markets and has strengthened itself in Australia through this recent acquisition. In 1998, post-restructuring, Asian Paints embarked on an ambitious plan to emerge as one of the top five decorative coatings companies in the world and to be the leader in emerging markets by 2007. Pacific Paints Co. Pty Ltd is a family-owned company which operates from North Brisbane, Australia. The company has carved a niche for itself in the Brisbane market and its brands have achieved success among the trade and retail segments. It has been in operation for nearly a decade and manufactures various types of water-based emulsion paints. Asian Paints, which entered the global market with its products over 30 years back, is India's largest exporter of paints, exporting to 22 markets in the Asia-Pacific region, West Asia and Africa.