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PrintSherwin-Williams to spend $2.34B on paint maker
Posted: 11/12/12 at 10:30 am Updated: 11/12/12 at 10:40 am
Tags: Sherwin Williams paint maker Consorcio Comex
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CLEVELAND (AP) -- Sherwin-Williams is buying the privately held Mexican paint company Consorcio Comex in a cash deal it values at about $2.34 billion.
Consorcio Comex sells paints and coatings under several brands in the United States and Canada, and it sells architectural and industrial coatings in Mexico. It has company-operated stores and also works with independent paint dealers.
The company is based in Mexico City and had a total of $1.4 billion in sales last year.
Sherwin-Williams, based in Cleveland, says the deal price includes assumed debt.
The Sherwin-Williams Co.'s brands include Dutch Boy, Minwax, Krylon and its namesake paints.
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