Era of acquisitions
Before the 1980s, Valspar's primary focus was on its consumer business.
In 1984, the company acquired Mobil's coatings division for $100 million, which was a low price because the division represented less than 0.5 percent of Mobil's total business. This acquisition effectively doubled Valspar's revenues. Valspar completed the integration of Mobil's operations by 1986.[8]
Richard Rompala, formerly of PPG Industries, became president of Valspar in 1994, chief executive officer in 1995, and chairman in 1998.[7] He pushed the then-primarily North American company into China, Hong Kong, Brazil, Mexico, and South Africa and acquired a number of companies.[7] In 2000, Valspar acquired Lilly Industries for $1.04 billion, which required Valspar to divest its mirror coatings business to conform with U.S. antitrust law.[7] Because of the cooling economy, restructuring charges from 14 plant closings in 2001, increasing raw materials prices, and higher debt servicing costs, Valspar's 26 consecutive years of earnings growth ended.[7]
In 2005, Valspar bought Samuel Cabot Incorporated, known for its Cabot brand interior and exterior stains and finishes. Cabot had been privately owned since 1877.[9]
In December 2006, the Valspar acquired the powder coatings business of H.B. Fuller. H.B. Fuller’s powder coatings business, which had net sales of approximately $75 million in 2005, serves customers in 26 countries from manufacturing facilities in the United States and the United Kingdom.[10]
Sherwin-Williams acquired Valspar on June 1, 2017 in an all-cash deal valued at $9.3 billion.
