Montvale, New Jersey/USA
www.benjaminmoore.com
PRIVATE COMPANY; YEAR ESTABLISHED: 1883
REVENUE: $1.8 billion* (2022: $1.75 billion)
MARKETS SERVED:
Architectural coatings; Wood coatings
KEY EXECUTIVES:
Dan Calkins, chairman and CEO; Talia Griep, EVP and CFO: Glenn Pinnel, SVP and CIO; and Harriette Martins, SVP, marketing.
Benjamin Moore is a leading formulator, manufacturer and retailer of a broad range of architectural coatings. The company currently employs approximately 1,700 people. It has facilities in Clifton, NJ; Johnstown, NY; Milford, MA; Pell City, AL; and Mesquite, TX. The company offers ready-mixed colors, sold under such brands as Benjamin Moore Paints, Moorcraft and Coronado Paint, and can match almost any shade with more than 3,400 colors
In 2023, Benjamin Moore celebrated its 140th anniversary. Since its founding, Benjamin Moore remains one of the world’s leading paint, color and coatings brands. The brand has introduced products focused on the consumer’s needs while supporting the independent channel.
This past year has proven that product innovation is at the core of Benjamin Moore with new products and reformulations:
• Regal Select Interior (March 2023) has been reformulated as the standard for excellence. The enhanced formulation features proprietary stain-release technology, increased scuff-resistance and unbeatable flow and leveling. Regal Select is the paint that generations of painting professionals and homeowners have relied on for years to deliver the premium-quality results that Benjamin Moore is known for. Its superior coverage and premium application experience with reduced drag for a beautiful uniform finish allows painters to achieve professional results every time.
• Element Guard (April 2023) is the newest premium exterior paint specially formulated to tackle one of the most difficult painting environments: high moisture. Designed to withstand wind-driven rain, excessive humidity, and other harsh weather conditions, Element Guard exterior paint is ideal for use on various exterior substrates such as vinyl and cedar siding, wood, brick and more. The paint can resist rain as soon as 60 minutes after application and be applied in temperatures as low as 35°F, extending the painting season and assuring that professionals can paint with confidence.
• Color Match Tool (June 2023) is a small, take-with-you-everywhere device that lets you scan the flat surface of any color you like, to instantly find its closest paint color match with just the tap of a button. It connects to the Benjamin Moore Color Portfolio app so you can find your desired color or browse through any of Benjamin Moore’s digital fan decks of over 3,500+ colors.
State of the Coatings Industry:
Dan Calkins, chairman and CEO at Benjamin Moore:
“Midway through the year, there are a handful of critical factors driving the state of the industry and a competitive market at-large. One key driver remains higher interest rates and home prices continuing to temper existing home sales. Inflation continues to pose challenges for many – one such example is in the DIY segment as there is less discretionary income for home projects given inflation throughout our economy. Additionally, extreme weather conditions across North America have a direct impact on painting season, particularly during this part of the year when exterior jobs typically contribute to the business more significantly.
"Factors such as a challenging housing market, coupled with economic inflation, are driving competitive pricing trends in the industry. Despite heavy competition in the marketplace, Benjamin Moore remains focused on priorities that will help sustain and grow the business, some of which include:
• Ensuring the health and stability of the independent channel – supporting our retailers with resources and programs that help them continue providing unparalleled service and expertise to their customers in North America and abroad.
• Continuous innovation and offering a best-in-class premium product mix – manufacturing the highest quality paints and stains for every job, enabling growth across customer segments.
• Keeping our customer at the center – understanding their needs and providing solutions to help them succeed, whether through problem-solving products, consultations on the job site, programs to support the growth of their businesses and more.”
