Durability + Design
About  |  Subscribe  |  Advertise  |  Connect 
Follow us on Twitter Like us on Facebook


D+D News

Main News Page

Sherwin-Williams Buys Comex for $2.3B

Wednesday, November 14, 2012

More items for Coatings Technology

Comment | More

The Sherwin-Williams Company has announced plans to acquire Comex Group, a 60-year-old Mexican paint company, for $2.34 billion, to expand the Cleveland firm's architectural paint business in the Americas.

Comex group store
Photos: Comex Group

Sherwin-Williams says it will buy Comex Group for $2.34 billion in an all-cash deal. The acquisition will help the Cleveland-based paint and coatings maker increase its presence in markets where it has few stores now.

Consorcio Comex, S.A. de C.V. (Comex Group), headquartered in Mexico City, manufactures and sells architectural and industrial coatings throughout Latin America, the U.S. and Canada. Sales generated about $1.4 billion in 2011.

The all-cash deal includes assumed debt and is subject to conditions and customary regulatory approvals, according to a release issued Monday (Nov. 12) by Sherwin-Williams.

‘Ideal Fit’

“Sherwin-Williams and Comex Group are an ideal fit in every respect—geographically, strategically and culturally,” said Christopher M. Connor, chairman and CEO of Sherwin-Williams.

Connor said the transaction would significantly increase Sherwin-Williams' presence in markets where it has few stores

“This agreement enables us to complement our presence throughout Latin America, in markets where our presence is very limited,” he said.

inside of a Comex store

Comex manufactures and sells architectural and industrial coating products throughout Latin America, the United States and Canada.

Further, he said, the acquisition “builds upon our strategy to grow our architectural paint business in the Americas, and it brings a high-quality, dedicated team of employees to Sherwin-Williams.”

Comex Details

Founded in 1952, Comex is a privately held business with 3,300 points of sale operated by 750 concessionaires, according to the companies. Comex operates eight manufacturing sites in Mexico, five in the U.S., and three in Canada. The company has more than 7,200 employees.

In the U.S., Comex sells paint and coatings products under a variety of brand names—including Frazee, Color Wheel, Parker and Kwal Paints—through 240 company-operated paint stores. In Canada, the company markets multiple brands of paint and coatings through 78 company-operated paint stores and about 1,500 independent paint dealers.

Comex places heavy emphasis on supplying "high-quality architectural paints and coatings," according to Sherwin-Williams. However, the company’s product portfolio also includes various industrial, protective and specialty coatings.

A Sherwin-Williams' presentation on the deal calls it “a unique growth opportunity” and indicates that roughly 75 percent of Comex sales are attributed to architectural paint products.


Tagged categories: Acquisitions; Architectural coatings; Business matters; Business operations; Coatings manufacturers; Comex; Sherwin-Williams

Comment Join the Conversation:

Sign in to our community to add your comments.

VaproShield Featured on Discovery Channel

Learn about how VaproShield membranes can protect your building investment in one minute!

Graco Inc.
Eco-Friendly Surface Prep

• Blast with 92% less dust
• Use less media
• Less containment & disposal costs
Graco® EcoQuip® Vapor Abrasive® Blast Equipment Learn more

Pratt & Lambert Paints

Pro-Hide® Gold Ultra is the ideal paint for your customers and your business. It delivers a beautiful finish, outstanding hide, easy application and excellent touch-up. And now pros can bid on even more jobs, because Pro-Hide Gold Ultra is MPI® Approved for interior gloss levels 1-5.

PPG Pittsburgh Paints

This high-production, quality "workhorse" professional latex paint is formulated to meet
the requirements of the professional painter and building contractors/managers. It is easy to apply by brush, roller or spray, is high-hiding and has spatter-free application, drying quickly for fast touch-up and recoat.

Keim Mineral Coatings
Mineral-Art® Artist Paints
+ Web Store

Colors and mineral paints that will last for generations. Secure your artistic legacy today with Keim Mineral-Art™ base coats, artist paints and pigments.

Atlas Material Testing Technology

Helping You Put Your Products To The Test

• Outdoor Accelerated
• Laboratory Testing
• Accelerated Weathering

www.atlas-mts.com atlas.info@ametek.com

KTA-Tator, Inc. - Corporate Office
KTA Laboratory Services

Fully equipped lab to solve
the most challenging
coatings problems.
Contact: Cindy O'Malley, 412-788-1300 x180


Technology Publishing Co., 2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@durabilityanddesign.com

The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker


© Copyright 2012-2016, Technology Publishing Co., All rights reserved