PPG Industries of Pittsburgh announced that is has acquired the architectural coatings business of Akzo Nobel N.V. in a deal worth $1.05 billion. Under the terms of the deal, PPG acquires all assets, including manufacturing and distribution facilities, paint stores, product lines and employees related to those products in Canada, the United States and the Caribbean. The acquisition adds to PPG’s existing 400 company-owned stores approximately 600 more, 240 of which are in Canada. Canadian manufacturing sites included in the deal are in Toronto, Beauport, Quebec, and Vancouver.
The leading brands acquired in the deal are Glidden, Flood, Liquid Nails, SICO and CIL. Brands now under licence from PPG include DuLux, Devoe architectural coatings, and SIKKENS architectural wood products.
The acquisition serves to expand PPG’s architectural coatings business in North America and the Caribbean, with greater reach in home centres, independent paint dealers and company-owned paint stores. The company’s products are now available in more than 15,000 outlets across the region.
PPG Industries is one of the world’s leading manufacturers of coatings and specialty products, serving the industrial, transportation and consumer products markets. It supplies sealants, coatings and aircraft maintenance chemicals for the aerospace industry; coatings for automotive repair and refurbishing; light industrial coatings; corrosion-resistant coating for the marine, infrastructure, chemical processing, oil and gas, and power industries; coatings inks and compounds for metal and plastic containers for the food and beverage industries; coatings for appliances, agricultural and construction equipment, electronics, heavy-duty trucks, flooring, cabinetry and finished products.
PPG Industries operates in approximately 70 countries. Its worldwide sales in 2012 were $15.2 billion, according to information provided on the company web site.