Both companies also share a strong belief in the transformative power of colour and a highly committed approach to sustainability. 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. 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.” We strongly believe there are several benefits, such as access to technology and innovation pipelines. We’ll be able to access highly complementary geographical positions in several new countries, including Colombia, which is the third largest in the region.”Ĭommenting on the deal, Andres Bernal, Grupo Orbis CEO, said: “This agreement represents an important growth opportunity for Orbis Group’s companies. “It 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.”ĭaniel Campos, the company’s Regional Director for South America added: “It’s an historic opportunity that offers attractive growth potential across both paints and coatings. “This is an excellent intended acquisition which aligns perfectly with our Grow and Deliver strategy of creating leading global positions and driving growth in emerging markets,” explained Thierry Vanlancker, AkzoNobel CEO. ![]() The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins) and Mundial (distribution and services). Present in ten countries in South America, Central America and the Antilles, Grupo Orbis has consolidated revenue of around €260 million. ![]() Completion is subject to regulatory approvals and is expected by end of this year, or in early 2022. AkzoNobel is to further expand its long-term position in South and Central America after reaching an agreement to acquire Colombia-based paints and coatings company Grupo Orbis.
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