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Dunn-Edwards, Nippon Paint Agree to Merger

Tuesday, January 3, 2017

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Asian paint manufacturing giant Nippon Paint Holdings Co. Ltd. (Osaka, Japan) has received approval from its board of directors to move ahead with plans to acquire Los Angeles-based paint maker Dunn-Edwards Corp.

Terms of the transaction, jointly announced Dec. 22, were not disclosed by the companies; however, a representative for Dunn-Edwards told PaintSquare News the deal is expected to close in March 2017. 

Reports indicate the deal is valued at 70 billion yen ($595 million).

Dunn Edwards
Dunn-Edwards

Dunn-Edwards produces and sells a range of architectural, industrial and high-performance paints throughout the Southwest U.S.

The move positions Nippon Paint for growth in the U.S. architectural paint market, according to the companies.

‘Business as Usual’

The Dunn-Edwards brand and its range of products will be maintained under the merger, the companies said. Dunn-Edwards produces and sells a range of architectural, industrial and high-performance paints throughout the Southwest. It had sales of approximately $360 million in 2015 and operates 130 stores along with more than 80 authorized dealers.

“This is an extraordinary opportunity for both companies,” said Karl Altergott, CEO of Dunn-Edwards. “We will continue business as usual as Dunn-Edwards, producing our superior paint and maintaining our culture that we’ve embraced for 91 years.”

“[In addition], we’ll have an influx of resources, new coatings technology and an opportunity to grow with a financially strong global leader.”

‘The Right Partner’

Nippon Paint has long eyed expanding its architectural paint presence in the U.S. and been searching for the “right partner,” according to Nippon Paint’s President and CEO Tetsushi Tado.

“It is important to us that Dunn-Edwards is the most environmentally responsible paint manufacturer, which fits with our mission,” Tado said. “[The company is] respected by both painting contractors and designers as a top choice. We enjoy the same reputation throughout Asia, so it’s an ideal fit.”

Founded 135 years ago, Nippon Paint has $4.8 billion in sales and operates more than 30 manufacturing plants throughout Asia. The company says it produces more than 1 million tons of paint and coatings annually for the architectural, premium automotive, industrial and marine coatings markets.

   

Tagged categories: Acquisitions; Business matters; Business operations; Coatings manufacturers; Dunn-Edwards; Mergers; Nippon Paint

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