Sherwin-Williams completes Inchem acquisition
Sherwin-Williams has completed its acquisition of the liquid coatings subsidiaries of Inchem Holdings, a Singapore-based coatings producer.
Financial terms of the deal were not disclosed.
Inchem produces a variety of coatings applied to wood and plastic products in Asia, including water-based, solvent-based and ultraviolet curable coatings for furniture, cabinets, flooring, electronic products, appliances and other items made for export and domestic sale. Inchem manufactures and sells products in China, Vietnam and Malaysia, and distributes to 15 other Asian countries.
The company had sales of $30 million last year.
“This acquisition reaffirms our commitment to growing globally through organic expansion, accelerated by strategically important acquisitions,” said Sherwin-Williams CEO Christopher Connor in a statement.
Sherwin-Williams has acquired other international properties in the past year, including India’s Nitco, Pinturas Industriales of Uruguay, Napko of Mexico and Flex, also based in Mexico.
OSH hires merchandising executive
San Jose, Calif.-based Orchard Supply Hardware (OSH) has announced the appointment of Mark Kauffman as senior vp-merchandising.
Kauffman, a 25-year industry veteran, will be responsible for merchandising and category management as well as providing key leadership for the company’s strategic growth initiatives.
“Mark’s experience and leadership will strengthen our team’s capabilities, allowing us to take our merchandising and assortment strategies to a world class level,” said Rob Lynch, OSH president and CEO. “Additionally, Mark will bring valued insight across the entire business as we design new programs to build our brand with our core home improvement customer segments.”
Before joining OSH, Kauffman was senior vp-merchandising and retail stores at Northern Tool and Equipment in Burnsville, Minn., where he led merchandising strategies and initiatives for the multichannel brand for six years. Prior to that, Kauffman was senior vp/general merchandise manager at Lowe’s, where he helped the company reposition itself in the market.
Kauffman began his career at Wolohan Lumber, where he served in various roles in operations, merchandising and marketing.
Former Landscape Supply store sells for $3.4 million
A former Home Depot Landscape Supply location has been purchased by a division of Arlington, Texas-based Chesapeake Energy Corp. for $3.4 million, or approximately $276 per square foot, according to realty sales tracking service CoStar.
The 12,383-square-foot location, also in Arlington, Texas, includes an outdoor landscape area of 25,890 square feet.
Ram Realty Services of Palm Beach Gardens, Fla., purchased Home Depot’s former Landscape Supply stores in Texas and Georgia earlier this year, paying $22 million for the 11 sites. Home Depot shuttered the Landscape Supply stores in November 2007.
Ram Realty said at that time it would determine on a case-by-case basis which of the Landscape Supply stores would be redeveloped, and which would be sold to “strategic users” like Chesapeake Energy.
Chesapeake Energy has not made an announcement of how it plans to develop the site.