Axalta to buy Valspar's North American wood coatings business for $420 mn

Axalta Coating Systems, one of the leading global suppliers of liquid and powder coatings, has entered into a definitive agreement with Valspar Corporation and Sherwin-Williams Company to acquire the assets related to Valspar’s North American industrial wood coatings business for $ 420 million in cash. 

Valspar is divesting the business in connection with the reviews by the Federal Trade Commission (FTC) and Canadian Competition Bureau (CCB) of the proposed acquisition of Valspar by Sherwin-Williams. The business had revenues of approximately $ 225 million in 2016 and is one of the leading providers of coatings for OEM and aftermarket industrial wood markets,