Costa Rica / Colombia. The multinational of Colombian origin Pintuco, belonging to the Global Group of Paints, announced the purchase of the Costa Rican paint manufacturer Vastalux for US$5 million.
The business is part of the expansion process that began a few years ago Global de Pinturas and that has allowed its entry into markets such as Ecuador, Peru, Venezuela, and Panama, among others; and would be in effect for the first few weeks of December, when some legal proceedings are completed.
"The Central American market has great appeal for us, because it reports a growing dynamic," said the newly positioned president of Pintuco, Andrés Ortega, who also clarified that another of the objectives of this acquisition is to open a platform to manage a future expansion to other markets in Central America.
Meanwhile, the current owner of Vastalux, Tomás Azofeifa, told the Costa Rican newspaper La Nación that talks with the Colombian group began more than two years ago and that the decision to sell his company because "alone, with my capital, it is very difficult to continue investing."
Vastalux operates only in Costa Rica, its employee base is 50 people and manufactures paints, varnishes, industrial coatings and waterproofing. For its part, Pintuco operates with 4,300 employees in all its headquarters in Latin America, including Colombia and Venezuela and markets products in the architectural, industrial, marine, automotive, powder lines, among others.
