PPG Industries has finalized the acquisition of the North American architectural coatings business of Akzo Nobel N.V., Amsterdam, in a deal valued at $1.05 billion.
With this acquisition, PPG has expanded its reach in all three major North American distribution channels, including home centers, independent paint dealers and company-owned paint stores.
“We are pleased to have successfully completed this acquisition, the second-largest in our company’s history, as it further extends PPG’s architectural coatings business in the United States, Canada and the Caribbean, and continues the accelerated pace of our business portfolio transformation,” said Charles Bunch, PPG chairman and CEO.
“Our already strong portfolio of North American brands, including PPG Paints, PPG Pittsburgh Paints, PPG Porter Paints, Lucite and Olympic Paints and Stains, has been significantly strengthened with the addition of well-known brands such as Glidden, Flood, CIL, Sico and Liquid Nails,” Bunch said. PPG also will license the following brands: Dulux, Devoe architectural coatings, and Sikkens architectural wood products.
Scott Sinetar, VP of PPG architectural coatings, North America, will lead the combined architectural coatings business. Sinetar will report to Michael McGarry, executive VP.
Sinetar was named to his current position in 2006. Previously, he served as manager, national accounts; national sales manager; director of sales; and general manager, architectural coatings. Earlier in his career, he held various positions with Olympic Paints and Stains. He earned a bachelor’s in business administration from Monmouth University and completed executive education at Carnegie Mellon University.
“Scott’s extensive background in architectural coatings will serve him well in this expanded role, having joined PPG in 1989 from the original Olympic Paints and Stains acquisition,” McGarry said. “Since then, he has served in many roles of increasing responsibility in the architectural coatings business.”