AkzoNobel Completes Grupo Orbis Acquisition
Akzo Nobel N.V. has completed the acquisition of Colombia-based paints and coatings company Grupo Orbis.
According to the company, the acquisition, which was announced in June 2021, strengthens its position in Latin America.
Present in 10 countries in Central America, South America and the Antilles, Grupo Orbis has consolidated revenue of approximately €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 10 countries. According to the company, this portfolio creates several opportunities for revenue synergies.