PPG Industries announced that its North American architectural coatings business has reached a definitive agreement to acquire Masterwork, an independent architectural paint distributor headquartered in Pittsburgh. The acquisition of Masterwork, which operates a 13-store network throughout Western Pennsylvania, Ohio and New York, will expand PPG's company-owned stores footprint in the region. The transaction is expected to close in the third quarter, subject to customary closing conditions. Financial terms were not disclosed.
"PPG continues to strengthen its company-owned stores network with the acquisition of Masterwork in PPG's headquarters market of Pittsburgh," said Scott Sinetar, PPG vice president, architectural coatings, North America. "As a network of stores that has primarily stocked PPG products in its locations, we're excited to continue to deliver the quality products that Masterwork's customers expect. Customers will benefit from a consistent, integrated customer experience delivered through PPG-owned stores.
"PPG-owned stores, independent dealers and home centers are the three critical components of our strategy to deliver unmatched distribution to our DIY and professional customers," Sinetar continued. "All three channels have and will continue to be key strategic channels for our business and our products."
