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Sherwin-Williams Acquires Consorcio Comex

|Includes:The Sherwin-Williams Company (SHW)

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The Sherwin-Williams Company (NYSE:SHW) announced it has completed the acquisition of the Mexican paint company Consorcio Comex. Comex, which sells paint and coatings under many brand names in the U.S. and Canada, will serve to expand Sherwin-Williams' expansion to the growing Mexican market. The deal in total is valued at $165M, with $90M of the sum in cash while the remaining $75M involves the assumption of debt. Comex currently operates 234 stores and five manufacturing facilities in the United States along with 80 stores and three manufacturing facilities in Canada. Sherwin-Williams, which already has a well-respected brand line including Krylon, Minwax, and Dutch Boy, will be able to add respected Comex brands including Kwal, Frazee, Parker Paints, and others.

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Stocks: SHW