Sherwin-Willams acquires paint and coatings corporation Valspar
The Sherwin‐Williams Company has announced it has completed its acquisition of The Valspar Corporation.
Under the terms of the merger agreement, Valspar shareholders will receive $113 per share in cash. In connection with completion of the transaction, Valspar common stock ceased trading prior to market opening today and will be delisted from the New York Stock Exchange.
John G. Morikis, chairman, president and chief executive officer of Sherwin‐Williams, said: “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.”
With corporate headquarters in Cleveland, Ohio, the combined company generated pro forma 2016 revenues of $15.8 billion and employs approximately 60,000 associates worldwide. It has a prominent market position in architectural paint in North America, South America, China, Australia and the UK.
In industrial coatings, the combined company is a global market leader in packaging coatings, coil coatings, general industrial coatings and industrial wood coatings.