Richard M. Rompala, Valspar chairman, president and CEO, said the businesses being acquired "are an excellent fit with Valspar," and would result in "significant consolidation savings."
Valspar Acquires Parts of Benjamin Moore Unit
January 1, 2002
MINNEAPOLIS - The Valspar Corp. announced the acquisition of certain assets of the coil, spray-applied door and rigid-packaging businesses of Benjamin Moore & Co.'s Technical Coatings Co. The purchase does not include manufacturing facilities, and Benjamin Moore will manufacture products for Valspar on a short-term basis until production is shifted to existing Valspar facilities, the companies said. Combined sales for the acquired businesses for 2001 will be an estimated $25 million, Valspar said.