Kusto Group’s Tambour, an expanding paint brand, has opened a new chapter with its acquisition of the Italian company Colorficio Zetagi, part of their strategy to turn local champions into global ones.
Zetagi was founded in 1957 and has rewritten history several times in its 61 successful years. The company kicked off with three major principles that have carried the brand to new heights: innovation, reliability, and production flexibility. With headquarters in Veneto, Italy, the company produces protective coating products, and is well known for industrial varnish cycles and polyaminic coating products.
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Zetagi’s achievements are noteworthy; It has contributed to the development of several Italian landmarks, including Milan’s High-Rise Diamond Tower, Juventus football stadium in Turin, Afragola, and Reggio Emilia railway station (designed by Zaha Hadid), and also, in the news for receiving ISO 9001:2008 certifications by Switzerland’s Association of Quality Systems Management (SQS). The company has thus carved a niche with its creativity, innovation, and reliability.
Kusto Group’s Tambour and Yerkin Tatishev
About 15 years ago, Tambour’s current CEO, Max Sartiyev, was persuaded by a man working on his house at the time to use Tambour Paints.
Max was reluctant at first but gave it a go and was extremely impressed with what the company had to offer. Several years later in 2014, Max received a call from renowned businessman Yerkin Tatishev, founder of the Kusto Group. Yerkin asked for Max’s opinion on Tambour Paints. Excited to have received the call, Max happily shared his opinion with Yerkin, as he recalls: “I couldn’t believe it. I told him it was great – that I’d used Tambour products on my house. He was pleased and told me to do some research and let him know if we should buy the company”, Max stated.
The deal was concluded in just three months, and thus Tambour became part of Kusto Group. The deal added weight to Kusto’s growing portfolio, catering to an even wider clientele. With a rich history, Tambour Paint is now a leading Israeli brand with international appeal, now available in Eastern Europe, Greece, South East Asia, and South Africa, with plans to reach Italy and other European nations soon.
The first step to create a mark in Italy was to take Zetagi under its wing, combining resources, entrepreneurial talent, energy, skills, and creativity to form an excellent palette. Given the successful history of those involved, it the future for Zetagi and Kusto seems set.
What Price Did Tambour Pay?
Tambour bought Zetagi for 7 million Euros, as reported by the local news agencies.
Founded in 1957, Zetagi is a popular name in Italy. The company has acquired several other brands over the years, acquisition of Veneziani in 2011 being the most famous.
Zetagi and Tambour’s Exciting New Chapter
Zetagi gained solid footing under the wing of Tambour, reaching new heights, and perhaps most more importantly, addressing its corporate debt, reported CNBC. The alliance helped positively restructure Zetagi, seeing growth of 15% as compared to last year’s figures.
What Lies Ahead?
Following the successful acquisition, Zetagi is aiming for a five-year development plan focused on future growth investing in other companies. While yet to speak publicly about the plan, it seems that Kusto Group is interested in making its mark on the European market, and this latest acquisition is just a small step in the greater leap.
Tambour’s vision is simple: to invest and to expand. The acquisition of Colorificio Zetagi shows how serious Tambour is about growing. Zetagi, specializing in oil, gas, and woodwork, will be opening new frontiers for Tambour. With 56 employees and valued at 15 million euros, Zetagi is now a big part of Kusto Group.