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