Sherwin-Williams to divest China paint business to Akzo Nobel N.V.

Sherwin-Williams announced it has signed a purchase agreement with global coatings company Akzo Nobel N.V. to divest its China architectural paint business. The business manufactures and sells decorative paints under the Huarun brand name in China, has annual revenue of approximately $100M USD and employs approximately 300 people. The transaction is expected to close in the second half of 2023, pending customary regulatory approvals.