De Beer sells products in more 65 countries and had sales in fiscal 2003 of approximately $50 million. The deal includes De Beer’s subsidiaries in the UK and Australia.
In other news, Valspar will build a new architectural coatings manufacturing and distribution facility in Pennsylvania.
“This investment positions us well to support the rapid growth of our architectural paint business,” said Richard Rompala, chairman and CEO.
The new plant, which is expected to be fully operational by mid-2005, will be built near Lebanon, PA and will provide capacity similar to that of the company’s Sacramento facility, according to a Valspar spokesperson.