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Canadian company General Paint announced, September 14, that it is to acquire most of the paint manufacturing and distribution operations of Quebec’s Societe Laurentide Inc.
Financial terms of the deal that will see the operations of Peinture Laurentide in Quebec and the Atlantic provinces integrated into the General Paint portfolio were not disclosed.
"By integrating Peinture Laurentide’s current architectural coatings activities in Quebec and the Atlantic provinces, this transaction will make General Paint a truly countrywide Canadian paint manufacturer," the Vancouver-based company said in a news release.
"After more than three years of close collaboration with Peinture Laurentide’s team for the distribution of its PARA Paints and Crown Diamond products in Quebec and the Atlantic provinces, General Paint is enhancing its strategic position by becoming Canada’s leading paint manufacturer," added president and CEO Dale Constantinoff.
Societe Laurentide will continue to operate its Boomerang recycled paint and industrial coatings businesses as well its spring water and automotive products divisions.