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Sherwin-Williams Buys Old Quaker Paint of Ontario

August 10, 1994|From Bloomberg Business News

Sherwin-Williams Co. said Tuesday that it has acquired the assets of Ontario-based Old Quaker Paint Co., a closely held company that has seven paint stores in Southern California and sells products to the new-home construction market.

Sherwin-Williams, a Cleveland-based maker and retailer of paint, did not disclose the price it paid for Old Quaker, which had annual revenue of less than $20 million and less than 100 employees, a company spokesman said.

The acquisition gives Sherwin-Williams a manufacturing plant in Victorville that will continue to make Old Quaker products. Those products will continue to be sold through Old Quaker stores, the company said.

Virtually all of Old Quaker's employees have joined Sherwin-Williams, the spokesman said.

Sherwin-Williams operates more than 2,033 paint stores in the United States and Canada. Its brand-name paints include Dutch Boy and Kem-Tone.

Sherwin-Williams stock closed down 37.5 cents at $32.75.

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