Valspar Completes Acquisition of Inver Group
MINNEAPOLIS--(BUSINESS WIRE)-- The Valspar Corporation (NYS: VAL) , a leading global manufacturer of paints and coatings, announced today that it has completed the previously announced acquisition of Inver Holding S.r.l. (Inver Group), a leading industrial coatings manufacturer in Europe. Financial terms of the transaction were not disclosed. With 2012 sales of approximately €160 million ($200 million), Inver Group specializes in liquid and powder coatings and resin products that are used in a variety of industrial applications including off-road equipment, auto and off-road parts, architectural aluminum windows, railways and trams.
Gary Hendrickson, Valspar's chairman and chief executive officer, said, "We're excited to welcome the Inver team into the Valspar family and look forward to accelerating our growth in the large European industrial coatings market. Our customers will benefit from the combined resources of both companies, giving them access to expanded technologies, a broader product portfolio and superior service. I am also pleased that Giovanni Domenichini, Inver's chief executive officer, will now lead Valspar's combined industrial business in Europe."
About The Valspar Corporation
The Valspar Corporation (NYS: VAL) is a global leader in the paint and coatings industry. Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality and the best customer service in the coatings industry. For more information, visit valsparglobal.com.
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