US Valspar buys two paint plants from Ace Hardware

02 January 2013 22:26  [Source: ICIS news]

HOUSTON (ICIS)--Valspar bought two paint plants from Ace Hardware, part of a larger deal under which Valspar will manufacture and supply the retailer's paint products, the US-based paint producer said on Wednesday.

The financial terms of the deal were not disclosed.

The two plants are near Chicago, Illinois, Valspar said.

Under the deal, Ace will also carry Valspar-branded paints at its US stores, which number more than 4,000, Valspar said.

Valspar will immediately begin making and distributing Ace-branded paint products, Valspar said. However, Ace will continue to own the brand trademarks of its paint lines, which include Clark+Kensington and Ace Paint.

In the autumn, Ace will begin carrying Valspar-branded paint products, Valspar said.

“This new business also positions Valspar well for further growth as the US housing market continues to recover," according to a statement by Gary Hendrickson, Valspar chief executive.

By: Al Greenwood
+1 713 525 2645

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index