Saturday, June 3, 2023

Become part of our community

AkzoNobel's Grupo Orbis Buyout Includes 'Pintuco' Paints AkzoNobel's Grupo Orbis Buyout Includes 'Pintuco' Paints Source: AkzoNobel

AkzoNobel Acquires Medellin’s Grupo Orbis, Pintuco Paints

Published in Companies Written by  June 30 2021 font size decrease font size increase font size 0
Rate this item
(1 Vote)

Netherlands-based multinational paints-and-chemicals giant AkzoNobel announced June 29 that it just inked a deal to acquire Medellin-based multinational paints, piping and hardware giant Grupo Orbis.

Deal completion “is subject to regulatory approvals and is expected by end of this year or in early 2022” -- but financial details have yet to be disclosed, according to AkzoNobel.

Grupo Orbis operates in 10 countries in South America, Central America and the Caribbean, with 2020 reported revenue of COP$1.2 trillion (US$320 million).

“The transaction includes the 'Pintuco' paints and coatings business, 'Andercol' and 'Poliquim' (resins) and 'Mundial' (hardware distribution and services),” according to AkzoNobel.

The new deal “will expand our long-term position across South America by establishing us as a frontrunner in the Andean region and in Central America, where several countries are high on the global growth rankings for the next decade,” added AkzoNobel CEO Thierry Vanlancker.

The Grupo Orbis deal “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 U.S.,” according to AkzoNobel.

Following the new deal, AkzoNobel as a result will be operating in more-than 150 countries, with more-than 33,000 employees.


Read 1244 times Last modified on Last modified on June 30 2021

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

About Medellin Herald

Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

Medellin Herald welcomes your editorial contributions, comments and story-idea suggestions. Send us a message using the "contact" section.

Contact US

logo def
Medellin Herald: Find news, information, reviews and opinion on business, events, conferences, congresses, education, real estate, investing, retiring and more.
  • COL (4) 386 06 27
  • USA (1) 305 517 76 35
  •  This email address is being protected from spambots. You need JavaScript enabled to view it. 
  • Medellin, Antioquia, Colombia

Medellín Photo Galery

Medellin, contrasting colors and styles by Gabriel Buitrago