PPG buys AkzoNobel's North American architectural paints unit for $1.05 billion

PPG Industries says it has reached a definitive agreement to acquire the North American architectural coatings business of AkzoNobel in a deal valued at $1.05 billion. The acquisition includes all of AkzoNobel's North American architectural coatings' manufacturing and distribution facilities, paint stores, product lines, and employees related to the production, sale, and distribution of architectural coatings in the United States, Canada, and the Caribbean. The acquired business had sales of about $1.5 billion in 2011. The acquisition of the AkzoNobel North...

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