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AkzoNobel completes Grupo Orbis acquisition to boost investment in growth in Latin America
April 22, 2022
Akzo Nobel N.V. (AKZA; AKZOY) 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.
About AkzoNobel
We supply the sustainable and innovative paints and coatings that our customers, communities – and the environment – are increasingly relying on. That’s why everything we do starts with People. Planet. Paint. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and have set our sights on becoming the global industry leader. It’s what you’d expect from a pioneering paints company that’s committed to science-based targets and is taking genuine action to address globally relevant challenges and protect future generations.
