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Wednesday, April 8, 2020

Sherwin-Williams to divest two Valspar plants, continue with $11.3 billion acquisition

By Mark Iandolo | Jun 6, 2017

Law money 03

WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) announced May 26 that Sherwin-Williams Company will settle anti-competitive allegations related to its proposed $11.3 billion acquisition of Valspar Corporation by selling Valspar’s North America Industrial Wood Coatings Business to Axalta Coating Systems Ltd.

The merger of Sherwin-Williams and Valspar, according to the FTC, would combine two of the top three industrial wood coatings manufacturers and therefore reduce competition in North America for industrial wood coatings used to make furniture, kitchen cabinets, and building products.

Sherwin-Williams will divest two Valspar industrial wood coatings plants to Axalta. These plants are in High Point, North Carolina, and Cornwall, Ontario. A monitor will oversee the implementation of this divestiture.

FTC staff collaborated with the Canadian Competition Bureau on the case.

The FTC voted 2-0 to issue the complaint and accept the proposed consent order, which is subject to public comment until June 27. After this date, the FTC will make a final decision on the proposed consent order. Details of the consent agreement package will also be published soon in the Federal Register.

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U.S. Federal Trade Commission Sherwin-Williams