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Home  > Markets & companies  > Coatings market  > Sherwin-Williams to expand its architectur...

Sunday, 22 September 2019
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Markets & companies, Coatings market

Sherwin-Williams to expand its architectural paint business by acquiring Comex

Thursday, 15 November 2012

Sherwin-Williams will pay approximately USD 2.34 billion, including assumed debt, in an all-cash transaction.

The acquisition of Comex expands Sherwin-Williams’ distribution in Mexico, the United States, Canada and other Latin American countries. Source: Erdquadrat - Fotolia.com
The acquisition of Comex expands Sherwin-Williams’ distribution in Mexico, the United States, Canada and other Latin American countries. Source: Er...

The Sherwin-Williams Company announced it has signed a definitive agreement to acquire Consorcio Comex, S.A. de C.V., a Mexican paint and coatings producer with headquarters in Mexico City. Sherwin-Williams will pay approximately USD 2.34 billion, including assumed debt, in an all-cash transaction.

Founded in 1952, Comex is a privately held business with operations in Latin America, the U.S. and Canada. In 2011, the paint and coatings producer had total annual sales of USD 1.4 billion. The Mexican enterprise manufactures and sells architectural and industrial coatings in Mexico through 3,300 points of sale operated by 750 concessionaires. In the U.S., the company sells paint and coatings products under a variety of brand names through 240 company-operated paint stores. In Canada, the company markets multiple brands of paint and coatings through 78 company-operated paint stores and approximately 1,500 independent paint dealers. Comex operates eight manufacturing sites in Mexico, five in the U.S. and three in Canada and has more than 7,200 employees. Completion of the acquisition is subject to certain conditions and customary regulatory approvals.

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