Daily News
From Home Furnishing Business
Sherwin-Williams Completes Acquisition of Valspar
June 2,
2017 by Larry Thomas in Business Strategy, Industry 
Sherwin-Williams (NYSE: SHW) said it has completed its acquisition of paint and coatings supplier Valspar, creating a company with more than 60,000 employees worldwide and annual revenues approaching $16 billion.
Under terms of the purchase agreement, Valspar shareholders will receive $113 per share in cash. The total value of the deal is estimated at $11.3 billion.
“The acquisition of Valspar accelerates Sherwin-Williams' global growth strategy and creates the global leader in paints and coatings,” said John Morikis, chairman, president and CEO of Sherwin-Williams. “The combination of these two companies creates a world class brand portfolio, expanded product range, premier technology and innovation platforms and an extensive global footprint. These enhanced capabilities will benefit our customers and create sustainable long-term value for our shareholders."
To satisfy anti-trust concerns raised by the Federal Trade Commission, Valspar’s North American wood coatings business was sold to Axalta Coatings Systems (NYSE: AXTA) for $420 million. The business, which is a major supplier of coatings for furniture, flooring and cabinets, had revenues of $225 million in 2016.
Valspar’s stock ceased trading Thursday and will be de-listed by the New York Stock Exchange.