PPG Industries has completed the acquisition of Comex Central America, adding 57 stores to its sales network in Central America in the paint and refurbishment line.
From a press release issued by PPG Industries:
PITTSBURGH, June 2, 2015 – PPG Industries (NYSE:PPG) today announced that it has acquired Consorcio Latinoamericano, which operates a network of 57 paint stores in Central America. Financial terms were not disclosed.
Following the purchase of Kativo by Grupo Mundial, the main competitors in Central America in the paint sector are Pintuco, Sur, Comex and Lanco.
With the acquisition of Kativo by the Colombian firm Pintuco for $120 million, pressure will increase in the Central American paint market competition. With this investment, the manufacturer has consolidated its plan to extend throughout the isthmus. Back in October it had acquired the Vastalux brand.
As part of its expansion plans in the Central American market, the Colombian company Pintuco has acquired the operations of the paint company Vastalux.
A press release by Pintuco states that : "The acquisition will be legally formalized once the range of processes required by Costa Rican law has been completed and all other conditions agreed with Vastalux have been fulfilled."