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Barloworld acquires Midas Paints

By Jason Lawton | September 12, 2005

Barloworld has acquired Midas Paints (Pty) Limited for approximately $6.3 million. The privately-owned paint maker sells Earthcote, a premium range of wall coatings through 34 franchised stores in South Africa. It also offers a contractor brand.

Midas will be run as a separate entity within Barloworld Coatings  and existing management and staff will be retained, according to company officials.

The Earthcote business, with its high-end brand and franchised concept stores will fit well with our Plascon branded offerings. It will form part of our strategy to provide consumers of premium quality wall coatings with a fully integrated lifestyle offering,‰ said Andre Lamprecht, Barloworld executive director and CEO of Barloworld Coatings. „The Earthcote business, with its high-end brand and franchised concept stores will fit well with our Plascon branded offerings. It will form part of our strategy to provide consumers of premium quality wall coatings with a fully integrated lifestyle offering.

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