International. The Rioja-based company Barpimo, which specialises in industrial coatings, has been acquired by Kusto Group through its Israeli subsidiary Tambour Paints. The transaction, valued at approximately 45 million euros, allows the multinational group to strengthen its presence in Europe.
Barpimo was founded in Nájera in 1959 by Juan Ros Montesinos. It currently has 250 employees, an annual production capacity of 90 million liters of paint and operations in more than 20 countries. Since 1997, it has been present in Central and Eastern Europe through its subsidiary Barpimo Polska.
As reported by Barpimo's management to the works council, the acquisition will not involve staff cuts. The company will maintain its current workforce at the Nájera facilities, which total 80,000 square metres, of which 27,000 are built.
Luis Dueñas, manager of Barpimo, pointed out that Kusto's objective is "to grow industrially in Spain and expand its business network in the country".
Barpimo has four R+D+i laboratories and has worked recurrently with the Economic Development Agency of La Rioja (ADER), accumulating 97 aid files that have represented an investment of 30 million euros.
Kusto Group, headquartered in Singapore and originating in Kazakhstan, operates in sectors such as building materials, petroleum, agriculture, gas stations, and catering. Founded in 2008, it is active in nine countries, including Vietnam, Uzbekistan, the United States, Canada, Ukraine and Italy, and employs more than 8,000 people. Its annual turnover is close to 1,000 million dollars.
Yerkin Tatishev, the group's chairman, said in a statement that Barpimo "shares the values of excellence, customer proximity and responsibility" of the conglomerate. He added that the incorporation of the Riojan company strengthens the multinational's portfolio and its commitment to growth in the coatings sector.
