Sherwin-Williams acquires Mexican paint supplier Comex

摘要

US Sherwin-Williams has signed a definitive agreement to acquire Mexican paint company Consorcio Comex for approximately $2.34 billion in cash, including assumed debt. Founded in 1952, Comex is a privately held business with operations in Latin America, the US and Canada. In 2011, it had total annual sales of $1.4 billion, of which 66% were generated in Mexico and the remaining 34% in the US and Canada. The acquisition, which is the largest in Sherwin-Williams' history, will lead to combined sales of around $10.2 billion and doubles Sherwin-Williams' coatings business in Latin America.