PPG Industries Inc. (NYSE: PPG) will acquire the North American architectural coatings business of AkzoNobel NV Amsterdam, including the Glidden brand, for $1.05 billion.
The deal includes all AkzoNobel North American architectural coatings manufacturing and distribution facilities, paint stores, product lines and employees related to production, sale and distribution.
AkzoNobel’s brands include Glidden, Flood, Liquid Nails, Sico, Dulux, Devoe and Sikkens.
PPG is a paint and chemical provider. In July, the company agreed to merge one of its units with Georgia Gulf Corp. (NYSE: GGC).