PPG acquires AkzoNobel North American architectural coatings business
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. The company’s product offerings are now available in more than 15,000 outlets across the region.
“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.”
BehrPro offers donations to repaint 9/11 Tribute Center
BehrPro, the professional products and services division of Behr Process Corp, has donated 160 gallons of Behr Premium Plus Ultra paint, and painting supplies, to the 9/11 Tribute Center. More than 20 local BehrPro employee volunteers helped to repaint the organization’s New York City lower level gallery.
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The donation was initiated through the company’s BEHRCares program, which “aims to create a positive difference in local communities through fundraising, donations and community service.” Volunteers repainted the organization’s museum.
"We’re extremely thankful to the BehrPro volunteer team for donating not only high-quality paint but committing to help our organization and mission by dedicating their time and painting expertise," said Jennifer Adams , CEO of the 9/11 Tribute Center. "Their efforts have refreshed the environment and brightened our staff and local volunteers."
Behr Premium Plus Ultra — a paint and primer in one — gave the volunteer team the ability to repaint multiple rooms and wall trim in one day. The dual-action paint also helped seal and protect both uncoated and previously painted surfaces.
"One of the guiding principles of the Behr culture is to ‘do the right thing.’ We believe wholeheartedly in this core value and it has allowed us to create opportunities for our employees to make a positive impact in local communities," said Colin Jaffe , senior VP operations for professional products and services at Behr. "We support the 9/11 Tribute Center’s mission and it’s been our honor to help beautify the organization’s office."
The 9/11 Tribute Center offers visitors to the World Trade Center site a place where they can connect with people from the Sept. 11 community.
Scotts names new CFO
Marysville, Ohio-based Scotts Miracle-Gro named Larry Hilsheimer executive VP and chief financial officer, effective immediately.
Hilsheimer was executive VP and CFO of Nationwide Mutual Insurance Co., the Columbus, Ohio-based insurance and financial services company, from 2007 through 2009. He then served as president and chief operating officer of Nationwide Direct & Customer Solutions, and most recently was president and chief operating officer of Nationwide Retirement Plans.
"To add someone with Larry’s strong financial pedigree and broad business background to our executive leadership team is an enormous win for ScottsMiracle-Gro and its shareholders," said Jim Hagedorn, chairman and CEO. "His leadership skills will bolster an already strong finance organization and his business insights and experience will make us a stronger and smarter company. I welcome him to the Scotts Miracle-Gro family and look forward to a strong partnership."
In his role at Scotts Miracle-Gro, Hilsheimer will oversee all corporate and operating finance functions.
Hilsheimer will replace Dave Evans, who left Scotts March 1 to join Columbus-based Battelle.
Prior to Nationwide, Hilsheimer was vice chairman and regional managing partner for Deloitte & Touche USA, and served on the board of directors of the Deloitte Foundation. Hilsheimer received his bachelor’s degree in business administration with a major in accounting from the Fisher College of Business at The Ohio State University and his law degree from Capital University Law School.
"I have maintained relationships with management of Scotts Miracle-Gro since the mid-1980s," Hilsheimer said. "I have long admired the commitment of the company to providing excellent products to help consumers enjoy beautiful lawns and gardens, and I am excited to become a member of the team."