Decorative Paints South America
We achieved a very strong performance, despite the pandemic and exchange rate volatility, as we continued to make progress towards the company’s Grow & Deliver strategy. Results were driven by growth in the premium market segment, innovation, strong commercial initiatives – including an improved shopping experience – and investment in branding campaigns. Consumers continued to invest in home renovation through DIY (do-it-yourself) solutions and professional painter services.
We’ll continue to build on our strong foundations, with the acquisition of Grupo Orbis further expanding our long-term position in South and Central America.Daniel CamposDirector of Decorative Paints South America
We reached an agreement to acquire Colombia-based paints and coatings company Grupo Orbis. Completion is subject to regulatory approvals and is expected in the first quarter of 2022. Present in ten countries in South America, Central America and the Antilles, Grupo Orbis has consolidated revenue of around €260 million. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins) and Mundial (distribution and services). 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.
Other key developments
- Our premium interior wall paints continued to grow market share, with Coral Decora leading our growth in Brazil. We also expanded it as a “Design” range in Argentina and Uruguay. Albalatex and Incalex Design offer three expert finishes and four special effects to give a multi-sensory experience
- Commercial initiatives continued to stimulate growth. In Brazil, category management drove shopping experience improvement in 1,000 stores. In Argentina, our Decorative Paints-owned franchise chain opened its 200th store
- In Brazil, consumer and painter brand preference growth for AkzoNobel reached the highest levels since measurement started
- The Centenario Stadium in Uruguay, which hosted the first-ever FIFA World Cup in 1930, was renovated with the help of our Inca brand. We supplied 12,000 liters of paint, which was used on surfaces throughout the historic venue, including the exterior, the stands, the changing rooms, the tunnel and the interior warm-up areas
- In Uruguay, our Inca brand supported the Solís Theater in Montevideo in its drive to promote diversity by donating paint for a colorful rainbow artwork which was installed outside the venue