Sherwin-Williams to Acquire BASF Paints Business for $1.5BSherwin-Williams to Acquire BASF Paints Business for $1.5B

Sherwin-Williams has entered into a definitive agreement with BASF Group to acquire BASF's Brazilian architectural paints business brands, Suvinil and Glasu!, for $1.15 billion. the business is under BASF's Coatings division.

The transaction includes the production sites in Demarchi and Jaboatão, related contracts, the Suvinil and Glasu! brands, and around 1,000 employees.

"Suvinil is a premier provider of architectural paints in Brazil and will accelerate our commitment to provide industry-leading solutions for our customers while delivering profitable above-market growth in the region," said Heidi G. Petz, Sherwin-Williams chair, president and chief executive officer. "The business is highly complementary to Sherwin-Williams in Latin America, as the Suvinil brand is well-known and highly-trusted by purchasing influencers and specifiers across the value chain. We are excited to capitalize on the strengths of both companies to further enhance value for customers."

The business is a leading provider of architectural paints in Brazil and had sales of approximately $525 million for the year ended December 31, 2024. The business develops, manufactures and sells a comprehensive portfolio of innovative products under the well-known Suvinil and Glasu! brand names to professional painters, designers, architects, general contractors and consumers across the country. The company employs approximately 1,000 employees and operates two production facilities strategically located in the Northeast and Southeast regions of Brazil.

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The decorative paints business, which generated sales of approximately $525 million in 2024, is BASF’s only sizeable B2C business and has a wide portfolio of paints and paint preparation products as well as digital solutions. The business operates almost exclusively in Brazil and has limited synergies with other coatings businesses within BASF.

Anup Kothari, member of the Board of Executive Directors of BASF SE and responsible for the Coatings division, said, "We are convinced that the decorative paints business will continue to thrive as part of Sherwin-Williams."

The transaction is expected to close in the second half of 2025.