The North American HBFuller has agreed to sell its paint division to Pintuco, a subsidiary of the Colombian company, for $120 million.
Grupo Kativo, which until recently was owned by HB Fuller, is a leader in the Central American paint market. The company has over 60 years experience and has presence in six countries.
Grupo Mundial president Ernesto Fajardo Pinto, told Dinero.com, "With this acquisition, Pintuco is strengthened in a region of strategic interest and reaches a coverage in 11 Latin American countries. Grupo Kativo has a portfolio of products recognized for their quality, is a leader in paint sales in the region, has an extensive distribution network and very positive business and financial results."