MINNEAPOLIS — Coatings manufacturer Valspar Corp. has purchased De Beer Lakfabrieken, a privately-owned, manufacturer and distributor of automotive refinish coatings based in The Netherlands. The acquisition includes De Beer’s subsidiaries in the U.K. and Australia. De Beer, which sells products in more than 65 countries, had sales of approximately $39 million ($50 million at current exchange rates) in 2003. Terms of the transaction were not disclosed.
Richard Rompala, Valspar’s chairman and CEO, said the acquisition broadens Valspar’s product offering and technology for the U.S. automotive refinish market and enhances the company’s ability to grow in this market.
The company will continue to operate under its current management team.
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