CLEVELAND - The Sherwin-Williams Co. has acquired the assets of Johnson Paints Inc. of Fort Myers, FL, a regional manufacturer and retailer of paint and related products sold under the Flex Bon brand name. Johnson Paints operates 24 company-owned stores and also supplies products to dealers in south Florida, primarily in the southwest coastal and Miami areas.

Sherwin-Williams said the Flex Bon business will operate as a separate business unit of the Southeastern Division of the Sherwin-Williams Paint Stores Group and will continue to produce and sell Flex Bon paint, also called "the original Florida formula." Lydia Bazarko, a Sherwin-Williams spokeswoman, said the company plans to retain essentially all of Johnson Paints' current employees and stores and to continue manufacturing operations at Johnson Paints' Fort Myers plant.

Sherwin-Williams did not disclose financial terms of the transaction. Bazarko said Johnson Paints' annual sales are between $18 million and $20 million

Sherwin-Williams Chairman and CEO Christopher M. Connor said the company is "excited about the opportunities that the Flex Bon business presents us in the growing south Florida market." Johnson Paints President Samuel V. Johnson said he is "pleased that Sherwin-Williams will be continuing the Flex Bon name and brand identity."