More news
- Asian paint regulatory round up – Indonesian exterior paint still uses lead, warns W...
- Nigeria’s paint industry navigates regulatory changes and economic challenges amid p...
- Focus on the global coatings market: Global coatings market outlook
- Ask Joe Powder – October 2024
- Chinese paint majors look to domestic consumer sales as commercial real estate slumps
Dunn-Edwards Corporation, one of the USA’s largest independent manufacturers of architectural, industrial and high performance paints, has announced it has entered into a merger agreement with Nippon Paint Holdings Co Ltd, the world’s fourth largest paint company with US$4.8bn in sales and certain of its subsidiaries. Osaka, Japan-based Nippon Paint will maintain the Dunn-Edwards brand and its range of quality paints. The merger with Dunn-Edwards provides Nippon Paint with a platform for growth throughout the USA.
"This is an extraordinary opportunity for both companies," said Karl Altergott, CEO of Los Angeles-based Dunn-Edwards. "We will continue business as usual as Dunn-Edwards, producing our superior paint and maintaining our culture that we’ve embraced for 91 years. Plus, we’ll have an influx of resources, new coatings technology and an opportunity to grow with a financially strong global leader.”
Nippon Paint’s President and CEO Tetsushi Tado agrees: "We’ve wanted to expand our architectural paints in the USA and have been searching for the right partner,” he explained. "It is important to us that Dunn-Edwards is the most environmentally responsible paint manufacturer, which fits with our mission. They are respected by both painting contractors and designers as a top choice. We enjoy the same reputation throughout Asia so it’s an ideal fit.”
The 135-year-old Nippon Paint Holdings is a pioneer in coatings technology in Japan and operates more than 30 manufacturing plants throughout Asia, producing more than one million tons of paint and coatings annually. It is known globally for architectural paint, and premium automotive, industrial and marine coatings.
Founded in Los Angeles, Dunn-Edwards has its roots in the Southwest, operating 130 stores along with 80+ authorised dealers. Dedicated to preserving and protecting the environment, Dunn-Edwards produces its coatings in a LEED® Gold-certified manufacturing plant.
Houlihan Lokey acted as Dunn-Edwards’ financial adviser and Potter Anderson & Corroon acted as Dunn-Edwards’ legal counsel for the transaction. Mitsubishi UFJ Financial Group (MUFG) and Mitsubishi UFJ Morgan Stanley Co Ltd acted as Nippon Paint’s financial adviser and Alston & Bird acted as Nippon Paint’s legal counsel.