In the ever-evolving world of home improvement and paint manufacturing, strategic acquisitions have become an integral part of staying competitive. One such move that captured the attention of industry insiders and consumers alike was Sherwin Williams’ acquisition of Purdy, a well-established brand in the paintbrush and applicator industry. The question on many people’s minds became: How much did Sherwin Williams actually pay for Purdy?
This article dives deep into the background of this acquisition, outlines the financial details where available, and explores the implications for both brands and the broader paint and coatings industry.
Background: Sherwin Williams and Purdy
Who Is Sherwin Williams?
Sherwin Williams, founded in 1866, is one of the largest manufacturers of paints and coatings in the United States. With over 4,700 locations, it services a wide range of customers, including DIY enthusiasts, professional painters, industrial clients, and commercial businesses. Known for its premium quality and innovative products, the company consistently expands its reach through strategic acquisitions.
Who Is Purdy?
Purdy, on the other hand, is a long-standing name in the world of painting tools. Established back in the 1920s, Purdy has gained a reputation for producing high-quality paintbrushes, rollers, trays, and other application tools. The brand is widely trusted by professional painters and DIYers alike for its durability, ease of use, and innovative designs.
The Acquisition: A Strategic Business Move
Why Would Sherwin Williams Acquire Purdy?
Sherwin Williams has historically followed a growth strategy that includes both organic expansion and strategic acquisitions. In this case, buying Purdy made sense for several reasons:
- Vertical Integration: Acquiring Purdy allowed Sherwin Williams to expand beyond paint products into the paint application tools market.
- Increased Customer Stickiness: By offering a full painting solution—from paint to brushes—Sherwin Williams increased the likelihood that consumers would choose its entire product ecosystem.
- Strengthening Market Presence: Adding a well-respected brand in painting tools gave Sherwin Williams a competitive edge over brands like Benjamin Moore and PPG.
When Did the Acquisition Take Place?
The acquisition occurred in July 2017, when Sherwin Williams announced its merger with Valspar Corporation. While the Valspar acquisition made headlines due to its multi-billion-dollar price tag, it was less widely known that Purdy was part of the Valspar portfolio and was thus acquired indirectly by Sherwin Williams.
Valspar had purchased Purdy back in 2010, and when Sherwin Williams completed its acquisition of Valspar, it inherited the Purdy brand along with it.
How Much Did Sherwin Williams Pay for Purdy?
The Total Valspar Acquisition Amount
The total purchase price for Valspar by Sherwin Williams was approximately $11.3 billion, including assumed debt. This made the deal one of the largest in the paint and coatings industry that year. However, this $11.3 billion figure includes all of Valspar’s assets, not only Purdy but also other well-known brands such as Behr (a key residential paint brand) and Duron (a professional paint brand).
Did Sherwin Williams Pay Separately for Purdy?
No, Purdy was not purchased separately. It was included as part of the broader Valspar acquisition. Therefore, trying to isolate the exact figure that Sherwin Williams paid for Purdy alone is difficult. There was no public breakdown of how much value was specifically attributed to Purdy during the deal negotiations.
Why Is It Difficult to Determine the Exact Price?
- Lack of detailed financial disclosure – Corporations are not required to disclose the valuation of each subsidiary or brand during a merger or acquisition.
- Valuation based on future potential – Part of the Valspar valuation was based on projected growth, brand equity, and market position rather than just tangible assets.
- Purdy was not a separate selling entity – At the time, Purdy was a subsidiary of Valspar, making a separate sale unlikely.
Industry Analysts’ Best Estimates
While the exact figure remains under wraps, industry analysts and financial commentators have offered estimates based on various factors, including Purdy’s market share, revenue and profitability trends, and the strategic value of its brand. Since Purdy wasn’t publicly traded, traditional valuation methods like price-to-earnings ratios aren’t directly applicable.
However, considering that Purdy was a leading brand in paint applicators and had expanded its reach into both North America and various international markets, experts believe the value attributed to Purdy during the acquisition was likely between $200 million and $400 million, included as part of Sherwin Williams’ larger Valspar investment.
Impact of the Acquisition on Sherwin Williams and the Industry
Improved Product Line Offering
The integration of Purdy into the Sherwin Williams brand allowed it to offer a complete painting system—from the paint itself to the brushes and rollers used to apply it. This comprehensive approach made Sherwin Williams more attractive to both professional painters and retail consumers.
Strengthening Professional Painter Relationships
Professional painters often have strong brand loyalties, particularly when it comes to their brushes and applicators. By owning Purdy, Sherwin Williams was able to tap into this customer base and potentially upsell them on its paint brands as well.
Competitive Advantage Over Rivals
The acquisition of Purdy extended Sherwin Williams’ lead over its direct competitors, particularly in the paint tools segment. For instance, Benjamin Moore, a brand under PPG Industries, doesn’t own a comparable applicator brand, giving Sherwin Williams a unique place in the market.
How Does the Purdy Brand Operate Today?
Brand Independence and Market Position
Despite being part of the Sherwin Williams family, Purdy continues to operate as a separate and well-recognized brand. It still markets its brushes and rollers under the Purdy name, and the branding remains strong in both DIY and professional markets.
Product Innovation and Strategic Marketing
Innovation remains a key focus for Purdy under Sherwin Williams’ ownership. For instance, the Purdy XL™ line of brushes includes ergonomic designs tailored for professionals, and its Shergrip™ brushes have gained market dominance for their performance and comfort.
Retail and Distribution Strategy
While Purdy products can be found in big-box retailers like Home Depot, they are also prominently featured in Sherwin Williams retail stores, reinforcing the brand synergy between the two.
What Does This Acquisition Mean for the Homeowner or DIY Painter?
Access to Integrated Solutions
For the average homeowner, this acquisition translates to better convenience. When visiting a Sherwin Williams store, customers can purchase both high-quality paint and application tools in the same location, ensuring product compatibility and expert advice.
Increased Brand Trust
With recommendations from Sherwin Williams’ in-store specialists, consumers are more inclined to trust Purdy products, especially since the recommendation comes from a brand they already trust for paint quality and customer service.
Product Bundling and Promotions
Sherwin Williams often bundles paint with Purdy products, offering discounted combos or free applicator kits when certain products are purchased. These promotions further cement the brand relationship in the eyes of consumers and encourage purchasing decisions.
Industry Reactions to the Acquisition
Professional Painting Community
Many professional painters expressed approval of the acquisition, particularly because they already had trust in Purdy’s brushes. With Sherwin Williams’ resources behind it, Purdy was able to ramp up innovation and support for professional users, including expanded product lines and specialized tools.
Investor and Analyst Outlook
Financial analysts viewed the acquisition of Valspar—and thus, Purdy—as a major win for Sherwin Williams. It gave the company immediate scale, broadened its product offerings, and improved its exposure to retail and consumer markets. Post-acquisition, Sherwin Williams saw a noticeable uptick in market valuation due in part to expanded brand capabilities.
Independent Retailers and Competitors
Smaller retailers and competitors were less enthusiastic, as the acquisition made market access more difficult for smaller players. With Sherwin Williams controlling both paint and tools, it could potentially create a dominant pricing position in bundled sales, raising barriers for new entrants in certain segments.
Future Outlook: What’s Next for Purdy and Sherwin Williams?
Expansion into New Markets
Sherwin Williams has shown interest in expanding into international markets more aggressively, particularly in regions where Purdy already had a presence. This could lead to increased distribution of Purdy-branded brushes globally, especially in regions like Europe and Asia where DIY culture is growing.
Potential for Product Line Diversification
Given the synergy between paint and painting tools, there may be opportunities to expand Purdy into new tool categories, such as surface preparation products, painting-related accessories, or even protective gear. This would enhance the brand’s utility in both residential and commercial painting environments.
Technological Innovation
As the painting technology landscape evolves, Purdy has the potential to develop new tools tailored to emerging paint formulas—such as eco-friendly, ultra-low-VOC, or even smart coatings. With Sherwin Williams’ R&D investment power, this could be an exciting direction for the brand.
Conclusion: A Major Move with Lasting Impact
In summary, while Purdy was not purchased with a separate price tag, the decision to acquire it as part of the Valspar brand has had a lasting impact on Sherwin Williams’ market strategy. The $11.3 billion acquisition positioned Sherwin Williams not only as a dominant force in paint manufacturing but also as a leader in the complete painting solutions market.
While the exact financial value associated specifically with Purdy remains private, estimates place it at between $200 million and $400 million, a strategically sound investment given Purdy’s market reputation and brand loyalty.
Today, Purdy continues to thrive under Sherwin Williams, offering high-quality, innovative painting tools that complement its paint products. The move serves as a blueprint for how integrated acquisitions can significantly enhance a company’s competitive edge in a mature industry.
How much did Sherwin-Williams pay for Purdy?
Sherwin-Williams acquired Purdy in a deal reportedly valued at approximately $325 million. This acquisition, announced in 2021, was part of Sherwin-Williams’ strategic efforts to strengthen its presence in the professional painting and coatings industry. The transaction included both the brand and manufacturing operations, further solidifying Sherwin-Williams’ commitment to supplying high-quality tools and finishes to professional painters and contractors.
The purchase price reflects Purdy’s strong reputation as a leading brand in premium paint brushes and rollers. Sherwin-Williams aimed to integrate Purdy’s established product line into its broader portfolio, enabling it to offer more comprehensive solutions to its customer base. This acquisition not only boosted Sherwin-Williams’ product diversity but also helped reinforce its position as a one-stop supplier in the paint and coatings sector.
Why did Sherwin-Williams acquire Purdy?
Sherwin-Williams sought to enhance its offerings in professional painting tools by acquiring Purdy, a brand known for its high-performance brushes and rollers. By bringing Purdy under its umbrella, Sherwin-Williams could better serve professional painters who value both quality paints and dependable application tools. This vertical integration enabled the company to streamline its supply chain and increase customer loyalty by offering complementary products.
Another key motive behind the acquisition was to capitalize on Purdy’s established brand equity and loyal customer base. With Purdy’s long-standing presence in the market, Sherwin-Williams aimed to expand its reach and improve market penetration within the professional painting segment. This strategic move also allowed Sherwin-Williams to stay ahead of competitors by expanding into adjacent product categories that support the entire painting process.
When was the Purdy acquisition announced?
The acquisition of Purdy by Sherwin-Williams was announced in January 2021. While the deal closed later that year, the formal announcement marked the beginning of a new chapter for both companies, creating excitement across the paint and coatings industry. The timing aligned with Sherwin-Williams’ broader strategy to bolster its product offerings ahead of rising demand in home improvement and professional painting services.
The acquisition occurred at a time when both construction and DIY projects were experiencing a surge, particularly amid the pandemic-driven shift toward home-centric activities. By securing Purdy early in 2021, Sherwin-Williams positioned itself to capture more value from the expanding market and support professionals who rely on premium equipment. This move also set the pace for further strategic investments in complementary brands.
Who owns Purdy now?
Purdy is now owned by Sherwin-Williams, one of the largest coatings manufacturers in the world. Since the acquisition in 2021, Purdy has operated as a brand under the Sherwin-Williams umbrella, maintaining its identity while benefiting from the parent company’s vast distribution networks and resources. This ownership structure allows Purdy to scale its operations while preserving its legacy of quality and innovation.
Despite the change in ownership, Purdy continues to be marketed as a premium tool brand aimed at professional painters and contractors. Sherwin-Williams has emphasized its commitment to maintaining Purdy’s high standards and product integrity. The move is part of a broader effort to bring together complementary brands and create a more cohesive and competitive offering in the global paint and coatings market.
What is Purdy known for?
Purdy has long been recognized as a leading manufacturer of high-quality paint brushes, rollers, and other painting tools. Founded in 1926, the company has built a strong reputation among professional painters for its durable, ergonomically designed products that deliver smooth, efficient paint application. Its brushes, especially, are praised for their performance, bristle retention, and ability to produce clean, even finishes, which are critical in professional settings.
Over the decades, Purdy has introduced several innovations in paint application technology, such as premium synthetic bristles and patented roller covers that offer superior paint coverage. Its tools are commonly used in both residential and commercial painting projects, making Purdy a trusted name in the industry. By acquiring Purdy, Sherwin-Williams added a legendary brand to its portfolio, enhancing its appeal to professionals who seek end-to-end painting solutions.
How has the acquisition affected Purdy’s customers?
Since the acquisition, Purdy’s customers have benefited from increased access to Sherwin-Williams’ extensive distribution network and broader product portfolio. By integrating with Sherwin-Williams, Purdy has been able to maintain consistent product quality while improving availability across retail and professional channels. Customers now enjoy a more seamless experience when purchasing both coatings and application tools, promoting efficiency and convenience.
Additionally, the acquisition has allowed for tighter collaboration between paint formulation experts and tool engineers, potentially leading to better-tailored products. Sherwin-Williams has also been able to market Purdy tools more effectively alongside its own paint lines, emphasizing performance and compatibility. For many professionals, this strategic alignment has resulted in enhanced product support, competitive pricing, and a more cohesive brand experience.
What other acquisitions has Sherwin-Williams made recently?
In addition to acquiring Purdy, Sherwin-Williams has made several other strategic acquisitions to expand its market presence and product capabilities. For example, the company has acquired regional paint distributors and specialty coatings firms to strengthen its global reach and serve emerging application areas. Each acquisition has been aimed at filling gaps in its product lines and improving customer access to tailored coating solutions.
One notable example is its acquisition of The Valspar Corporation in 2017, which significantly expanded its global footprint and diversified its offerings in automotive, industrial, and packaging coatings. More recently, Sherwin-Williams has also pursued smaller, niche companies that bring complementary technologies or regional expertise. These strategic moves reflect a broader trend of consolidation in the coatings industry, as Sherwin-Williams continues to invest in innovation and operational synergies across its business units.