MINNEAPOLIS, June 1, 2015 /PRNewswire/ -- The Valspar
Corporation today announced that it completed the previously
announced acquisition of the performance coatings businesses of
Quest Specialty Chemicals, Inc., which include automotive refinish
and industrial coatings. The acquired businesses had 2014 sales of
approximately $190 million. Financial
terms were not disclosed.
"We're excited to welcome the Quest team into the Valspar family
and look forward to accelerating our growth in automotive refinish
and industrial products," said Gary
Hendrickson, Valspar Chairman and Chief Executive Officer.
"Our customers will benefit from expanded distribution of a
portfolio of preferred brands they know and trust, a broader range
of high-performance products and a stronger service network."
Quest Automotive Products formulates, manufactures, and
distributes a complete line of advanced technology paints, coatings
systems, and accessories to professional refinishers under the
well-respected brands of Matrix®, Prospray®, and USC®, primarily in
North America and Europe. Quest Industrial Products serves both
the professional and consumer markets with aerosol spray products
and highly-specified coatings for industrial applications under the
Patriot®, Raabe® and Precision Color® brands, primarily in
North America.
Valspar: If it matters, we're on it.®
Valspar is a
global leader in the coatings industry providing customers with
innovative, high-quality products and value-added services. Our
10,500 employees worldwide deliver advanced coatings solutions with
best-in-class appearance, performance, protection and
sustainability to customers in more than 100 countries. Valspar
offers a broad range of superior coatings products for the consumer
market, and highly-engineered solutions for the construction,
industrial, packaging and transportation markets. Founded in 1806,
Valspar is headquartered in Minneapolis. Valspar's reported net sales in
fiscal 2014 were $4.5 billion and its
shares are traded on the New York Stock Exchange (symbol:VAL). For
more information, visit www.valspar.com and follow @ValsparCo on
Twitter.
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SOURCE Valspar Corporation