Adds Daniel Campos, the company’s Regional Director for South America: “It’s an historic opportunity which offers attractive growth potential across both paints and coatings. We’ll be able to access highly complementary geographical positions in several new countries in the Andean, Central America and Antilles regions, including Colombia, which is the third largest in the region.”
Commenting on the deal, CEO of Grupo Orbis, Andres Bernal, says: “This agreement represents an important growth opportunity for Orbis Group’s companies. We strongly believe there are several benefits, such as access to technology and innovation pipelines. Likewise, we find great opportunities for the development of our employees and our clients, who will be able to access an enlarged and more complete portfolio.”
In addition to creating value from global and regional product and service innovation, the intended acquisition will enable AkzoNobel to better serve customers across more geographies, as well as accessing new markets.
Both companies also share a strong belief in the transformative power of color and a highly committed approach to sustainability. It’s therefore expected that joining AkzoNobel’s “Let’s Colour” program with the expertise of the Pintuco Foundation will provide fresh impetus for further improving the quality of life for people in local communities throughout the region.
The intended transaction 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 US.
AkzoNobel has a passion for paint. We’re experts in the proud craft of making paints and coatings, setting the standard in color and protection since 1792. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. Headquartered in the Netherlands, we are active in over 150 countries and employ around 33,000 talented people who are passionate about delivering the high-performance products and services our customers expect.