H.B. Fuller Sells Central American Paints Business
H.B. Fuller Co. recently announced it has signed an agreement to sell its Central American paints business to Compania Global de Pinturas S.A., a company of Grupo Mundial. H.B. Fuller’s Central American paints business reportedly has a leading market position in the region with strong brands, a broad offering of product lines and a local manufacturing presence. Sales are made through multiple distribution channels, including retail distributors and the company’s network of retail stores located throughout Central America.
“This business has a strong market position and excellent leadership,” said Jim Owens, president and CEO of H.B. Fuller. “Our strategic vision is to be the best adhesives company in the world, and the paints business is not, therefore, core to our strategic plan. Our divestiture enables this excellent business to be part of a company with a strategic position in the paint industry.”
The Central American paints business began operations in Costa Rica in 1949 and has been a member of the H.B. Fuller portfolio since 1967. The business being sold includes nearly 800 employees who work across Central America, and production plants and laboratories in Costa Rica, Honduras, and Panama.
For additional information, visit www.hbfuller.com.