The Sherwin-Williams Company has completed the acquisition of the U.S./Canada business of Consorcio Comex. Sherwin-Williams will pay $90 million in cash and assume liabilities currently valued in the range of $75 million.
Comex operations in the U.S. and Canada consist of 314 company-operated stores – 234 in the U.S. and 80 in Canada – and eight manufacturing sites. In addition, Comex supplies paint and coatings products to approximately 1,500 external retail locations in Canada. The company manufactures and sells products under brands such as Frazee, Kwal, Parker Paints, General Paints, Color Wheel and Para.
“This is an exciting step forward in our ongoing effort to bring these two respected companies together,” said Chris Connor, chairman and CEO of Sherwin-Williams. “The Comex business model in the U.S. and Canada is a good strategic fit for Sherwin-Williams and will improve our ability to serve customers in some of our most important geographic markets.”
