Petrochemical
AkzoNobel completes acquisition of paints and coatings firm Grupo Orbis
In addition to creating value from global and regional product and service innovation, the acquisition will enable AkzoNobel to better serve customers across more geographies, as well as accessing new markets
- By ICN Bureau
| April 23, 2022
Akzo Nobel N.V. has completed the acquisition of Colombia-based paints and coatings company Grupo Orbis, strengthening its long-term position in Latin America.
Present in ten countries in Central America, South America and the Antilles, Grupo Orbis has consolidated revenue of around €360 million. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins, emulsions, adhesives and specialty chemicals), Mundial (paints and related product distribution services) and Centro de Servicios Mundial (shared services center).
The Pintuco portfolio consists of 75% decorative paints and 25% coatings, offering a wide range of products across ten countries, creating several opportunities for revenue synergies.
The deal was first announced in June 2021.
In addition to creating value from global and regional product and service innovation, the acquisition will enable AkzoNobel to better serve customers across more geographies, as well as accessing new markets.
Both companies also share a strong belief in the transformative power of color and a highly committed approach to sustainability. It’s therefore expected that joining AkzoNobel’s “Let’s Colour” program with the expertise of the Pintuco Foundation will provide fresh impetus for further improving the quality of life for people in local communities throughout the region.
The transaction follows on from a series of recent acquisitions by AkzoNobel across the paints and coatings industry over the last 18 months, which have included Titan Paints in Spain and New Nautical Coatings in the US.
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