Akzo Nobel N.V. has announced that it has finally completed the full acquisition of the Colombian paint and coatings company Grupo Orbis, strengthening its long-term position in the Latin American market.
With a presence in ten countries in Central and South America and the Antilles, Grupo Orbis has consolidated revenues of approximately 360 million euros. The transaction also includes the paint and coatings business of Pintuco, Andercol and Poliquim (resins, emulsions, adhesives and specialty chemicals), Mundial (paint and related products distribution services) and Centro de Servicios Mundial (shared services center).
In addition, Pintuco’s portfolio is made up of 75% decorative paints and 25% coatings, and offers a wide range of products in ten countries, creating several opportunities for revenue synergies.
Thierry Vanlancker, CEO of AkzoNobel, is happy to welcome the Orbis Group colleagues. It is a business conglomerate formed by Pintuco, Andercol, O-tek, Inproquim and Cacharreria Mundial, headquartered in Medellin and with presence in more than 10 Latin American countries. The agreement was first announced in June 2021 and was just consolidated in April 2022.
