American Industrial Partners To Acquire PPG's Architectural Coatings Business In The U.S. And Canada; Financial Terms Of Transaction Not Disclosed; PPG's Architectural Coatings Business In The U.S. And Canada Generated 2023 Revenue Of ~$2B
Portfolio Pulse from Benzinga Newsdesk
American Industrial Partners is set to acquire PPG's U.S. and Canadian architectural coatings business, which generated $2 billion in revenue in 2023. The deal is expected to close by early 2025, pending customary conditions.
October 17, 2024 | 12:47 pm
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PPG is selling its U.S. and Canadian architectural coatings business to American Industrial Partners. This segment generated $2 billion in 2023, and the sale could impact PPG's revenue and market focus.
The sale of a significant revenue-generating segment could impact PPG's overall revenue and strategic focus. However, the financial terms are undisclosed, making the immediate impact on stock price uncertain.
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