Sherwin-Williams acquires Mexican coatings firm in $2.3B deal

CLEVELAND—Sherwin-Williams is buying Mexican paint and coatings firm Consorcio Comex in a deal worth $2.34-billion, the company says.

Comex manufactures and sells architectural and industrial coatings in Mexico, and in Canada markets multiple brands of paint and coatings through 78 company-operated paint stores and approximately 1,500 independent paint dealers.

It operates eight manufacturing sites in Mexico, five in the U.S. and three in Canada and has more than 7,200 employees.

The deal is subject to undisclosed conditions and regulatory approvals.