ICI Acquires Argentine Paint-Stores Business
February 22, 2001
LONDON — ICI plc has acquired the paint-stores business of Grandes Pinturerias del Centro, a major paint-distribution chain in Argentina. ICI said the transaction adds 102 stores to its Argentinian subsidiary S.A. ALBA, which includes an existing network of 296 stores. Grandes Pinturerias, based in Buenos Aires, has annual sales of £17 million.
ICI said the acquisition “reinforces the position of ICI Paints as the leading paints and coatings company in South America.”