On Monday, Sherwin-Williams Company (SHW) announced that it has completed the acquisition of the U.S./Canada business of Consorcio Comex, S.A. de C.V. In the transaction, Sherwin-Williams paid $90 million in cash and assumed liabilities currently valued at about $75 million.
Comex operations in the U.S. and Canada consist of 314 company operated stores–234 in the U.S. and 80 in Canada–and eight manufacturing sites–five in the U.S. and three in Canada. In addition, Comex supplies paint and coatings products to approximately 1,500 external retail locations in Canada.
Sherwin-Williams and Comex are still working to secure regulatory approval from the Federal Competitor Commission of Mexico for Sherwin-Williams to complete the acquisition of the operations of Comex in Mexico.
Sherwin-Williams shares were inactive during pre-market trading on Monday. The stock is up 13.72% year-to-date.
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