05:41 AM EST, 02/18/2025 (MT Newswires) -- Sherwin-Williams ( SHW ) said Monday it has agreed to acquire BASF Group's Brazilian architectural paints business for $1.15 billion in cash.

The business operates under the Suvinil and Glasu! brand names, Sherwin-Williams ( SHW ) said. It employs about 1,000 people in two production facilities and generated $525 million in 2024 revenue, the company added.

Sherwin-Williams ( SHW ) said it plans to fund the acquisition using cash on hand, liquidity available under existing credit facilities, and new debt.

The deal is expected to close in H2, the company said.