Sherwin-Williams Co. (SHW) said that it agreed to divest Wattyl, an Australian and New Zealand manufacturer and seller of architectural and protective paint and coatings, to global coatings company Hempel A/S.
Wattyl had reported annual revenue of about US$200 million and employed 750 people.
The transaction is expected to close during the first quarter of 2021.
The Wattyl business became part of Sherwin-Williams through the 2017 acquisition of The Valspar Corporation. The business was previously reported in Sherwin-Williams Consumer Brands Group.
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