PORTLAND, OR – Miller Paint has entered into a definitive agreement with Akzo Nobel to acquire the business operations and related assets of two ICI paints stores located in Portland, OR, and Salem, OR. Following the transaction close, which is scheduled for Jan. 29, 2010, Miller plans to operate the Portland store as a new Performance Coatings Center and consolidate the ICI Salem store into an existing Miller Paint store in Salem.

 

In addition, Miller Paint and Akzo Nobel have established a new strategic alliance. Miller Paint has acquired the exclusive rights to distribute the full range of Glidden Professional, Dulux and Devoe Coatings products, initially through 10 additional Miller Paint locations in the extended Portland/Salem market.

 

“The addition of the Portland store from ICI and the new alliance will extend Miller Paint’s commitment to provide their customers with the industry’s widest range of quality architectural and industrial paint and related products,” said Steve Dearborn, CEO and President of Miller Paint.

 

“This strategic alliance is one of a series of recent partnerships nationwide with independent paint retailers to expand our service points in key markets,” said Dearborn.

 

Miller Paint is an employee-owned company that has been manufacturing and selling paint and coatings products in the Northwest for over 120 years. Its corporate headquarters and manufacturing facility are located in Portland, OR. The company currently operates 33 stores located throughout Oregon and Washington.