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Miller Paint, AkzoNobel Set Deal

Monday, January 4, 2010

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Miller Paint has established “a new strategic alliance” with AkzoNobel that includes acquisition of two ICI Paints Stores in Oregon, according to a statement by Miller.

The agreement includes both the business operations and related assets of the stores. After the deal is signed  Jan. 29, Miller plans to operate the Portland store as a new Performance Coatings Center and consolidate the ICI Salem store to the existing Miller Paint store in Salem.

In addition, Miller Paint and AkzoNobel have established a new strategic alliance. Miller Paint has acquired the exclusive rights to distribute the full range of Glidden Professional, Dulux and Devoe Coatings products, initially through 10 additional Miller Paint locations in the extended Portland/Salem market.

“The addition of the Portland store from ICI and the new alliance will extend Miller Paint’s commitment to provide their customers with the industry’s widest range of quality architectural and industrial paint and related products,” said Steve Dearborn, CEO & President of Miller Paint.

“This strategic alliance is one of a series of recent partnerships nationwide with independent paint retailers to expand our service points in key markets,” said Steve Atkinson, western sales director for ICI Paints’ parent company, AkzoNobel. “Working with Miller Paint is an excellent fit as we together build DIY and commercial traffic through their eleven new Glidden Professional Authorized Dealer locations.”

Employee-owned Miller Paint, based in Portland, has been manufacturing and selling paint and coatings products in the Northwest for over 120 years; it currently has 33 stores in Oregon and Washington. AkzoNobel’s brands include Glidden, Ralph Lauren Paint, Devoe Coatings and Martha Stewart Living paints.

Terms of the deal were not disclosed.

   

Tagged categories: AkzoNobel; Mergers; Miller Paint

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