MINNEAPOLIS — The Valspar Corp. said it has acquired the 50% stake in Farboil Co. formerly held by its partner in the joint-venture business, a manufacturer of decorative powder coatings and other products. Farboil, located in Baltimore, had revenue of $17 million for the year ended May 31, 1999.

Valspar Chairman, President and CEO Richard Rompala said the transaction “is a natural strategic fit” for Valspar and “provides additional manufacturing capacity and flexibility for Valspar's rapidly growing decorative powder coatings business.”