Sherwin-Williams Finalizes Acquisition of BASF’s Architectural Paints Division 'Suvinil' in Brazil

The Sherwin-Williams Company has finalised its acquisition of BASF's Brazilian architectural paints business ('Suvinil'), following the announcement of a definitive agreement in February and the receipt of required regulatory approvals.

"Suvinil is a business we have admired for decades, and the rare opportunity to add an organisation of this quality to Sherwin-Williams aligns directly with our long-term growth strategy," said Heidi G. Petz, Sherwin-Williams Chair, President and Chief Executive Officer. "Suvinil is highly complementary to our existing presence in Latin America, where we have operated for more than 80 years, and immediately accelerates our ability to provide industry-leading solutions for our customers and opportunities for our employees. We are excited to add Suvinil's outstanding talent, brands, technology, distribution, manufacturing and customers to the Sherwin-Williams portfolio." 

Suvinil, one of Brazil’s leading architectural paint brands, generated approximately $525 million in sales for the year ending December 31, 2024. The business develops, manufactures, and markets a diverse portfolio of products under the Suvinil and Glasu! brands, serving professional painters, designers, architects, contractors, and consumers nationwide. With around 1,000 employees and two strategically located production facilities in the Northeast and Southeast regions of Brazil, Suvinil will now be integrated into the Sherwin-Williams Consumer Brands Group.

The acquisition was completed at a purchase price representing a low-teens EBITDA multiple, accounting for expected post-transaction synergies and one-time costs. Looking ahead, Sherwin-Williams anticipates ending 2025 with a net debt-to-EBITDA ratio within its target range of 2.0 to 2.5 times. Suvinil is expected to deliver a low single-digit contribution to consolidated sales in the fourth quarter of 2025 compared to the same period in 2024, with only a minimal impact on diluted net income per share due to transaction-related expenses and purchase accounting amortisation.

Source: The Sherwin-Williams