Columbia Paint & Coatings Co. to Merge with Sherwin-Williams

Leading Washington State Paint & Coatings Company Will Become a Subsidiary of Sherwin-Williams

CLEVELAND--(BUSINESS WIRE)--The Sherwin-Williams Company (NYSE:SHW) and Columbia Paint & Coatings Co. announced that they have entered into a definitive merger agreement. Following the consummation of the merger, Columbia Paint & Coatings Co. will become a subsidiary of Sherwin-Williams.

Columbia Paint & Coatings Co., headquartered in Spokane, Washington, is a leading manufacturer and distributor of paints and coatings in the western and pacific northwestern portions of the United States. Columbia services the professional painting contractor, builder and do-it-yourself markets through 41 company-owned stores. The transaction will be completed upon the receipt of all regulatory approvals.

H. H. (Larry) Larison, Chief Executive Officer of Columbia Paint & Coatings Co., said, "Columbia Paint & Coatings has built a respected and admired company with 60 years of history in the paint and coatings industry. Sherwin Williams is a very well managed and highly respected multi-national company and we at Columbia Paint are very excited about this merger and are confident that it will allow us to provide a stronger level of service and support to our customers, both now and in the future."

Christopher M. Connor, Chairman and Chief Executive Officer of The Sherwin-Williams Company, said, "We are pleased to have reached an agreement with Columbia Paint. Sherwin-Williams has great respect for the Columbia Paint organization and we are excited about bringing Columbia Paint into the Sherwin-Williams family. After the transaction is completed, Columbia's paints and coatings will continue to be provided through Columbia's existing stores. We are looking forward to working with the Columbia organization and we believe we will improve our service to professional painting contractors, builders and do-it-yourself customers."

The Sherwin-Williams Company

Founded in 1866, The Sherwin-Williams Company is a world leader in the manufacture, development, distribution and sale of coatings and related products to professional, industrial, commercial and retail customers. The Company manufactures products under well-known brand names such as Sherwin-Williams®, Dutch Boy®, Krylon®, Minwax®, Thompson’s® Water Seal® and many more. Sherwin-Williams® branded products are sold exclusively through a chain of 3,226 company-operated stores, while the company’s other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers and industrial distributors throughout North America. Through its International Coatings Division, Sherwin-Williams distributes products in more than 20 countries around the world.

Additional Information

                Sherwin-Williams         Columbia

Stores              3,226                 41

Locations           50 states             11 states
                                          (WA, Oregon, Idaho, Montana,
                                          Wyoming, North and South
                                          Dakota, Nevada, Utah,
                                          Arizona, Alaska)

Employees           33,000                350

Founded             1866                  1947

Headquarters        Cleveland             Spokane

The Sherwin-Williams Company M&A 2007

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