Valspar has agreed to acquire Samuel Cabot Incorporated, the 128-year-old privately owned manufacturer of exterior and interior stains and finishes. Based in Newburyport, MA, Cabot had sales of approximately $58 million in 2004. The deal is expected to close in approximately one month; terms were not disclosed.
“Cabot Stains has a long, distinguished history and an outstanding reputation for quality products,” said William L. Mansfield, Valspar’s president and CEO. “We are committed to strengthening and expanding the Cabot brand under the continued leadership of John Schutz, Cabot’s CEO. The combination of the Valspar and Cabot brands significantly strengthens our product offering for independent paint retailers and we are enthusiastic about our prospects for growth in this important distribution channel.”