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Akzo Nobel will acquire Colombian paint company Grupo Orbis

 Last Update: 2021-08-06
 Source: Internet
 Author: User

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On June 29, Sinochem News, Akzo Nobel announced that it will further expand its long-term position in South and Central America after reaching an agreement to acquire Colombian paint and coating company Grupo Orbis
.

The completion of the transaction requires regulatory approval and is expected to be completed by the end of this year or early 2022
.

Financial details were not disclosed

The Orbis Group has operations in 10 countries in South America, Central America and the Antilles, and its consolidated revenue is approximately 1.
2 billion pesos (260 million euros)
.

The transaction includes Pintuco paint and coatings business, Andercol and Polyquim (resin) and Mundial (distribution and service)

In the past 18 months, Akzo Nobel has made a series of acquisitions in the paint and coatings industry, including Titan Paints in Spain and New Nautical Coatings in the United States

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