Valspar Acquires Brazilian Coatings Company
MINNEAPOLIS - The Valspar Corp. has acquired Isocoat Tintas e Vernizes Ltda., located in Araçariguama, state of São Paulo, Brazil. Isocoat manufactures powder coatings used in appliance, building products, transportation and other general industrial markets, serving customers in Brazil, Argentina and Colombia.
"Isocoat further strengthens Valspar's presence in the fast-growing coatings markets in Latin America and broadens our range of technologies for the general industrial segment," said Gary E. Hendrickson, Valspar President and Chief Operating Officer. "The company is an excellent strategic fit with our existing business, supports our service to our global customers in the region and provides an outstanding platform for growth." Isocoat had 2010 sales of approximately $34 million. Terms of the transaction were not disclosed.