The Valspar Corp. has announced that it has acquired Brazilian coatings maker Isocoat Tintas e Vernizes Ltda.
Isocoat, located in Araçariguama, São Paulo, Brazil, manufactures powder coatings used in transportation, building products, appliances and other general industrial markets for customers in Brazil, Argentina and Colombia.
Isocoat had 2010 sales of approximately $34 million. Terms of the transaction were not disclosed.
Expanding Market, Technologies
"Isocoat further strengthens Valspar's presence in the fast-growing coatings markets in Latin America and broadens our range of technologies for the general industrial segment," said Gary E. Hendrickson, Valspar president and chief operating officer.
"The company is an excellent strategic fit with our existing business, supports our service to our global customers in the region, and provides an outstanding platform for growth."
Minneapolis-based Valspar, founded in 1806, is the world’s sixth-largest paint and coatings company. Its Industrial Coatings segment produces coil-applied coatings; composite coatings for the marine, transportation, sanitary and automotive markets; extrusion coatings; and general industrial coatings. The company’s product portfolio also includes high-performance architectural, packaging, wood, and automotive coatings, as well as coating intermediates.