True Value acquires Yenkin-Majestic paints
True Value Company and The Yenkin-Majestic Paint Corporation, an Ohio-based manufacturer of coatings and coatings resins, entered into a definitive agreement under which True Value Company will acquire Yenkin-Majestic’s consumer paint business, producing architectural coatings for home, agricultural, and specialty applications under the Majic brand name.
“The acquisition of the Majic portfolio of products is an excellent strategic fit for True Value,” said John Vanderpool, Division President, True Value Manufacturing & General Paint. “The Majic paint brand deepens our strong portfolio of products, which today includes our flagship EasyCare brand, and enhances our capabilities in the agricultural and other specialty segments of the paint industry. Customers of both companies will benefit from the higher levels of investment that True Value plans to make in research and development, as well as improving supply chain resiliency and customer support.”
Chris Kempa, CEO of True Value Company said, “This acquisition is another example of True Value’s commitment to investing in its business, aggressively pursuing growth and ensuring that our retailers have what they need to win in the marketplace.”
“True Value’s focus on quality and service to paint retailers, and their commitment to the associates who power our organizations, mirror our company culture as a family-owned business,” said Yenkin-Majestic President and CEO Andrew O. Smith. “True Value has been a respected partner of ours for many years, and we know they will take the Majic product line to new heights. We can think of no finer company to carry forward the legacy of our consumer paint business.”
He added, “This transaction also allows us to focus our resources and reinvest in our polymers business.”