The sale of Arch Chemicals Inc’s wood coatings business to the Sherwin-Williams Company has been completed for €40m.
The agreement Covers operations in Italy, UK, Spain, North America and Singapore, manufacturing a wide range of industrial coatings under the Sayerlack brand, used for surface protection and decorative finishes in furniture and joinery applications.
Sayerlack is one of the largest manufacturers of industrial wood coatings in Europe, with net sales last year of US$147m.
“This divestiture supports our ongoing strategy to focus our portfolio on biocides businesses and to redeploy resources from non-core businesses into this key growth platform,” said Arch Chemicals’ chairman Michael E Campbell.
He said he was pleased the business was joining a group with a dedicated focus on coatings.
Cleveland-based Sherwin-Williams said the acquisition reaffirmed its commitment to global growth through organic expansion, accelerated by appropriate acquisitions.
The group has 13 manufacturing and 79 facility locations across the US, Canada, Mexico, Europe and China, with brands including Sherwin-Williams, Dutch Boy, Krylon, Miniwax, Thompson’s and WaterSeal.
