Valspar to Acquire European Industrial Coatings Company Inver Group

  Valspar to Acquire European Industrial Coatings Company Inver Group

Purchase expands presence in the $6 billion European industrial coatings
market and provides operating synergies with Valspar’s existing businesses

Business Wire

MINNEAPOLIS -- June 4, 2013

The Valspar Corporation (NYSE:VAL), a leading global manufacturer of paints
and coatings, today announced a definitive agreement to acquire Inver Holding
S.r.l. (Inver Group), a leading industrial coatings manufacturer in Europe.
The transaction is expected to close in the fiscal fourth quarter, subject to
regulatory approval and customary closing conditions. Financial terms were not

Inver Group is headquartered in Bologna, Italy and generated sales in 2012 of
approximately €160 million ($200 million). Founded in 1934, the company
specializes in liquid and powder coatings products as well as resins that are
used in a variety of industrial applications including off-road equipment,
auto and off-road parts, architectural aluminum windows, railways and trams.
Owned by the Domenichini family for three generations, the company serves
customers primarily in Italy, the United Kingdom, France, Germany and Poland.

“Consistent with the growth strategy for our industrial coatings business, the
acquisition of Inver Group significantly strengthens our position in the large
and attractive European coatings market and provides operational synergies
with our existing operations,” said Gary Hendrickson, Valspar’s chairman and
chief executive officer. “Inver’s strong product portfolio and customer focus
have successfully delivered results through numerous business cycles. With
Inver, we gain a proven leadership team that is a strong fit with Valspar’s
culture. Our customers will benefit from the expanded technologies and service
we will provide together.”

Giovanni Domenichini, chief executive officer of Inver Group, added: “Inver is
delighted to join forces with Valspar, adding Inver’s strong customer focus,
leading technology and track record of success in the European industrial
coatings market to Valspar's global footprint and commitment to excellence. We
believe this combination is an important step toward developing a market
leading presence in Europe that also will be a platform for truly superior
global growth in our industrial coatings businesses. Our family has proudly
owned Inver and we are now proud to join the Valspar family.”

About The Valspar Corporation

The Valspar Corporation (NYSE: VAL) is a global leader in the paint and
coatings industry. Since 1806, Valspar has been dedicated to bringing
customers the latest innovations, the finest quality and the best customer
service in the coatings industry. For more information, visit

About Inver Group

Inver Group’s coatings are used on the products of thousands of clients, from
light industry to multinationals. Family owned and operated since 1934, Inver
Group manufacturers liquid and powder coatings that are used in a variety of
products— from small metal objects to large earthmoving equipment. The company
focuses on the unique requirements of its clients: to protect their products
and make them unique also from the aesthetic viewpoint, all with the highest
level of optimization of the painting process and the least possible emission
of harmful substances into the atmosphere.


The Valspar Corporation
Media Contact:
Mark Goldman, 612-851-7802
Investor Contact:
Tyler Treat. 612-851-7358
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