According to the press release by PPG, no manufacturing assets or facilities were included in the acquisition agreement.
Flood® Australia manufactures and distributes specialty wood stain and paint additive solutions for consumer, commercial and industrial applications.
Michael McGarry, PPG President and Chief Operating Officer, said the acquisition of Flood would allow the company to expand its market reach.
“The acquisition of Flood Australia allows PPG to further expand its architectural paint and coatings offering and establish a position in wood care in Australia,” Mr McGarry said.
“We look forward to providing customers with the same quality products for which the Flood brand has become known in Australia.”
PPG is a global supplier of paints, coatings, optical products, specialty materials, glass and fibre glass. Founded in 1883, the company has global headquarters in Pittsburgh and operates in nearly 70 countries around the world, with reported net sales of $15.4 billion in 2014.