International. Valspar Corporation announced that it has entered into a definitive agreement to acquire The Quest Specialty Chemicals, Inc.'s performance coatings business, which include automotive refinishing and industrial coatings.
The transaction, which is expected to close in the company's fiscal third quarter, is subject to customary closing conditions. Financial terms were not disclosed.
With sales of approximately $190 million in 2014, the companies to be acquired from Quest include an auto repair business, along with a smaller industrial products business. The Quest Automotive Products formulates, manufactures, and distributes a complete line of advanced technology paints, coating systems, and accessories for professional painters under the Matrix, Prospray, and USC brands, primarily in North America and Europe.
