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Posted March 24, 2016

Sherwin-Williams to acquire Valspar

Deal is worth $11.3 billion. 


The Sherwin-Williams Company and The Valspar Corporation have entered into an agreement for Sherwin-Williams to acquire Valspar for approximately $11.3 billion.

At $113 per share, the transaction represents a premium of approximately 41% to Valspar's volume weighted average price for the 30 days up to and including March 18.

"The transaction results in an exceptional, diversified array of strong brands and technologies, accelerates Sherwin-Williams growth strategy by expanding its global platform in Asia-Pacific and EMEA, and also adds new capabilities in the packaging and coil segments," according to a prepared statement announcing the planned acquisition. The combined company would have pro forma 2015 revenues of approximately $15.6 billion.

"Valspar is an excellent strategic fit with Sherwin-Williams. The combination expands our brand portfolio and customer relationships in North America, significantly strengthens our Global Finishes business, and extends our capabilities into new geographies and applications, including a scale platform to grow in Asia-Pacific and EMEA," said John G. Morikis, president and chief executive officer of The Sherwin-Williams Company.

"Customers of both companies will benefit from our increased product range, enhanced technology and innovation capabilities, and the transaction's clearly defined cost synergies. We have tremendous respect for the expertise and dedication of the Valspar team and we are excited about the opportunities that this combination will provide to both companies' employees. Sherwin-Williams will continue to be headquartered in Cleveland and we intend to maintain a significant presence in Minneapolis."

Click here to learn more or visit www.sherwin-williams.com

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