Industry News

Nippon Paint & Dunn-Edwards Enter Merger Agreement

Published on 2016-12-26. Author : SpecialChem

Dunn-Edwards Corporation, one of the nation’s largest independent manufacturers of architectural, industrial and high performance paints, has announced that it has entered into a merger agreement with Nippon Paint Holdings, one of the world’s largest paint companies with $4.8 billion in sales, and certain of its subsidiaries. Osaka, Japan-based Nippon Paint will maintain the Dunn-Edwards brand and its range of quality paints. The merger with Dunn-Edwards provides Nippon Paint with a platform for growth throughout the U.S.

Nippon Paint to Maintain the Dunn-Edwards Brand

Dunn Edwards
Nippon Paint & Dunn-Edwards Enter Merger Agreement

This is an extraordinary opportunity for both companies,“ said Karl Altergott, CEO of the Los Angeles-based Dunn-Edwards. “We will continue business as usual as Dunn-Edwards, producing our superior paint and maintaining our culture that we’ve embraced for 91 years. Plus, we’ll have an influx of resources, new coatings technology and an opportunity to grow with a financially strong global leader.”

Nippon Paint’s President and CEO Tetsushi Tado agrees “We’ve wanted to expand our architectural paints in the U.S. and have been searching for the right partner,” he explained. “It is important to us that Dunn-Edwards is the most environmentally responsible paint manufacturer, which fits with our mission. They are respected by both painting contractors and designers as a top choice. We enjoy the same reputation throughout Asia, so it’s an ideal fit.”

The 135-year-old Nippon Paint Holdings is a pioneer in coatings technology in Japan and operates more than 30 manufacturing plants throughout Asia, producing over one million tons of paint and coatings annually. It is known globally for architectural paints, and premium automotive, industrial and marine coatings.

Merger to Help Growth in the U.S.

Founded in Los Angeles, Dunn-Edwards has its roots in the Southwest, operating 130 stores along with 80+ authorized dealers. Dedicated to preserving and protecting the environment, Dunn-Edwards produces its coatings in a LEED® Gold-certified manufacturing plant.

Houlihan Lokey acted as Dunn-Edwards’ financial adviser, and Potter Anderson & Corroon acted as Dunn-Edwards’ legal counsel for the transaction. Mitsubishi UFJ Financial Group (MUFG) and Mitsubishi UFJ Morgan Stanley Co., Ltd. (MUMSS) acted as Nippon Paint’s financial adviser, and Alston & Bird acted as Nippon Paint’s legal counsel.

About Nippon Paint

Nippon Paint produces high-quality paints and coats for automotive, industrial and decorative sectors. Over the years, Nippon Paint has perfected its products by means of breakthrough paint technology, with an emphasis on innovation and eco-friendliness.

About Dunn-Edwards

Dunn-Edwards Paints® has produced and sold premium paint products for more than 90 years and is the #1 Choice of Painting Professionals based on an independent study where licensed painting contractors in Los Angeles, San Diego and Phoenix overwhelmingly selected Dunn-Edwards Paints as the paint they would use on their own homes. With more than 129 company-owned stores in California, Arizona, Nevada, New Mexico and Texas, and more than 90 authorized dealer locations, Dunn-Edwards is one of the nation’s largest independent manufacturers and distributors of architectural, industrial and high performance paints and paint supplies. Dunn-Edwards Paints international presence includes authorized dealers in China, Guam, Guatemala, Lebanon, Lithuania, Mexico, Nigeria, Philippines, Saipan, Singapore and South Korea. The company is dedicated to preserving and protecting the environment, and produces its coatings in the world’s first and only LEED® Gold-certified manufacturing plant. Based in Southern California, the company is composed of approximately 1,500 employees.

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Source: Dunn-Edwards
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