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Valspar Corp. has announced a partnership with British home-improvement retailer B&Q to sell its paints in locations throughout the United Kingdom and Ireland.
Under the agreement, Valspar will be positioned as one of B&Q’s flagship paint brands, providing products to 350 stores, according to the Minneapolis-based paint company.
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David Wright / Wikimedia Commons |
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Valspar says the deal with UK home-improvement retailer B&Q will increase the company’s global reach, but will not affect earnings in fiscal 2013.
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Moreover, the two companies report they are collaborating to create a new “consumer experience” not seen before in the U.K. decorative paints marketplace. The retail concept will be rolled out throughout 2013, Valspar said.
Expanding Global Reach
“Our partnership with B&Q is another important step in expanding our global consumer paint business and bringing innovative paint solutions to new retail partners and markets,” said Gary Hendrickson, chairman and CEO of Valspar.
He added that the company looked forward to helping B&Q grow in the paint category.
Previously, B&Q’s stores offered ready-mix paints in a small assortment of colors and textures.
Valspar said the deal was not expected to have a material impact on its earnings in fiscal 2013. The company will announce its fourth-quarter and full-year earnings for fiscal 2012 on Nov. 20.
B&Q is a leading DIY and garden center retailer in the U.K. and Ireland. Its stores offer approximately 40,000 home-improvement and garden products for homeowners and trade professionals.
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