Colombian Gets CentAm Paint Assets

Colombia’s Compania Global de Pinturas (Pintuco) has agreed to buy the Central American paints business of US Global adhesives company HB Fuller for $120m, HB Fuller says. The American company is shedding the business it has owned since 1967 because paint is no longer core to its strategic plan. The CentAm assets generated revenue of $114m and Ebitda of $13.3m in 2011. The transaction is expected to be completed within 60 days. Pintuco, part of Grupo Mundial, has a presence in Colombia, Venezuela, Ecuador, Costa Rica, Panama and the Caribbean.