Sherwin-Williams completes $1.15 billion acquisition of BASF’s Brazilian paints business

Sherwin-Williams Co. (NYSE:SHW) announced Wednesday that its subsidiary, Sherwin-Williams do Brasil Indústria e Comércio Ltda., has completed the acquisition of Suvinil Coatings S.A., BASF SE’s Brazilian architectural paints business. The purchase includes the Suvinil and Glasu! brands.

According to a statement based on a Securities and Exchange Commission filing, the transaction was completed in accordance with a purchase agreement dated February 15, 2025. Sherwin-Williams acquired all issued and outstanding equity interests in Suvinil Coatings S.A. for a purchase price of $1.15 billion, subject to customary working capital and post-closing adjustments.

To finance a portion of the acquisition, Sherwin-Williams and its affiliate, Sherwin-Williams Luxembourg S.à r.l., entered into a 364-day senior unsecured delayed draw term loan credit agreement on August 8, 2025. Under this agreement, the company borrowed $750 million in U.S. dollars and €250 million in euros on September 25, 2025.

Suvinil Coatings S.A., formerly known as BASF Coatings S.A., represents BASF’s architectural paints operations in Brazil. The acquisition expands Sherwin-Williams’ presence in the Brazilian market.

The company’s common stock is listed on the New York Stock Exchange under the symbol SHW.

All information is based on a statement in a recent SEC filing.

In other recent news, Sherwin-Williams has completed its acquisition of BASF’s Brazilian architectural paints business, Suvinil, adding approximately $525 million in annual sales to its portfolio. This acquisition, now part of Sherwin-Williams’ Consumer Brands Group, follows regulatory approvals and integrates Suvinil’s operations in Brazil. Meanwhile, Jefferies has reiterated its Hold rating on Sherwin-Williams, highlighting ongoing weak demand in the paint and coatings sector as a concern. UBS has maintained a Buy rating with a $395 price target, despite a cautious outlook on the U.S. housing market, following discussions with Sherwin-Williams’ executives. RBC Capital also reiterated an Outperform rating with a $400 price target after engaging with the company’s leadership. Conversely, BMO Capital lowered its price target to $391, citing a notable earnings miss and guidance cut, but still maintains an Outperform rating, reflecting a positive long-term perspective on Sherwin-Williams.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.