Nippon Paint buys Dunn-Edwards of US amid M&A spree

LONDON: Nippon Paint Holdings Co agreed to buy Dunn-Edwards of the US, the second overseas acquisition by a Japanese coatings supplier this month.

The purchase of the 91-year-old, Los Angeles-based household paint supplier is expected to be completed by the end of March, Nippon Paint said in a statement yesterday. Financial details will be released at a later date, the company said. Nikkei newspaper reported the transaction could be worth 70 billion yen (US$594mil).