Akzo Nobel will acquire Colombian paint company Grupo Orbis

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

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.

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.