International. PPG Industries announced that it has acquired Consorcio Latinoamericano, a company that operates a network of 57 paint stores in Central America. Financial terms were not disclosed.
"This acquisition expands PPG's operations in the growing Central American region," said Michael McGarry, PPG's president and chief operating officer. "The purchase allows PPG to leverage a network of stores to grow the Glidden brand in Panama and offer additional PPG products to customers throughout the region."
With this acquisition, PPG will operate 87 company-owned stores throughout Belize, El Salvador, Guatemala, Honduras, Costa Rica, Nicaragua and Panama. PPG plans to set up stores in Panama under the Glidden brand, and offer products from its protective and marine coatings business in stores throughout Central America.
Consorcio Latinoamericano functioned as a concessionary network for PPG-Comex, the company's business in Mexico and Central America. PPG completed the acquisition of Comex in November.
