PPG Industries acquired Consorcio Comex, S.A. de C.V. for $2.3 billion (announced); $1.98 billion net of cash acquired (at close), a transaction completed in November 2014, structured as all cash.
Consorcio Comex, S.A. de C.V. operates in Architectural coatings - Americas and Asia Pacific (Performance Coatings), is based in Mexico City, Mexico (sells across Mexico and Central America). Consorcio Comex, S.A. de C.V. and its related companies, an architectural coatings company headquartered in Mexico City. Comex manufactures coatings and related products in Mexico and sells them in Mexico and Central America principally through more than 3,700 independently owned and operated concessionaire stores. The deal added a leading architectural coatings business in Mexico and Central America - PPG's second-largest acquisition at the time.
We are pleased to have successfully completed this acquisition, the second-largest in our company's history, as it adds a leading architectural coatings business in Mexico and Central America to our portfolio.
Added the leading architectural coatings business in Mexico and Central America and a 3,700+ store concessionaire network. Architectural coatings - Americas and Asia Pacific business (Performance Coatings reportable segment)
We are pleased to have successfully completed this acquisition, the second-largest in our company's history, as it adds a leading architectural coatings business in Mexico and Central America to our portfolio.Charles E. Bunch, Chairman and CEO, PPG Industries
Advisory firms were not disclosed for this transaction.