MINNEAPOLIS - Valspar has agreed to acquire Samuel Cabot Inc., Newburyport, Mass., the 128-year-old, privately owned manufacturer of exterior and interior stains and finishes. In 2004, Samuel Cabot had sales of approximately $58 million.

"Cabot Stains has a long, distinguished history and an outstanding reputation for quality products," said William L. Mansfield, Valspar's president and CEO. "We are committed to strengthening and expanding the Cabot brand under the continued leadership of John Schutz, Cabot's CEO. The combination of the Valspar and Cabot brands significantly strengthens our product offering for independent paint retailers, and we are enthusiastic about our prospects for growth in this important distribution channel."