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.
Architectural coatings are becoming increasingly robust as we move into the 21st century. Consumers demand that coatings be more stain repellent or easy-to-clean. To meet this demand, paint companies advertise highly cleanable,…