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Sico To Acquire PARA, Inc.

By Jason Lawton | May 5, 2003

Canada's largest paint company, Sico, Inc. , has acquired PARA Inc., a Brampton, Ontario architectural paint maker, for $16.9 million. The deal more than doubles Sico's market share in Ontario, as more than half of PARA's 400 point -of-sale locations are located in Ontario.

PARA Inc., founded in 1915, manufactures architectural coatings and is the exclusive distributor of Sikkens stains in Ontario. PARA tallied sales of approximately $49 million in 2002.

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