Sherwin-Williams acquire Comex $2.34 billion

Sherwin-Williams to acquire Comex for $2.34 billion

10:14 AM, 15th November 2012
Sherwin-Williams to acquire Comex for $2.34 billion

CLEVELAND, US: The Sherwin-Williams Company has signed a definitive agreement to acquire Consorcio Comex, SA de CV, a leader in the paint and coatings market in Mexico with headquarters in Mexico City. Sherwin-Williams will pay approximately $2.34 billion, including assumed debt, in an all-cash transaction. Completion of the acquisition is subject to certain conditions and customary regulatory approvals.

“Sherwin-Williams and Comex Group are an ideal fit in every respect - geographically, strategically and culturally. This transaction will significantly increase our presence in markets where our store count is low, it builds upon our strategy to grow our architectural paint business in the Americas and it brings a high-quality, dedicated team of employees to Sherwin-Williams,” said Christopher M Connor, Chairman and CEO, Sherwin-Williams.

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