True Value Co. and The Yenkin-Majestic Paint Corp., an Ohio-based manufacturer of coatings and coatings resins, announced they have entered into a definitive agreement under which True Value Co. will acquire Yenkin-Majestic’s consumer paint business, producing architectural coatings for home, agricultural and specialty applications under the Majic brand name.
“The acquisition of the Majic portfolio of products is an excellent strategic fit for True Value,” says John Vanderpool, division president, True Value Manufacturing & General Paint. “The Majic paint brand deepens our strong portfolio of products, which today includes our flagship EasyCare brand, and enhances our capabilities in the agricultural and other specialty segments of the paint industry. Customers of both companies will benefit from the higher levels of investment that True Value plans to make in research and development, as well as improving supply chain resiliency and customer support.”
“This acquisition is another example of True Value’s commitment to investing in its business, aggressively pursuing growth and ensuring that our retailers have what they need to win in the marketplace,” says True Value Co. CEO Chris Kempa.
“True Value’s focus on quality and service to paint retailers, and their commitment to the associates who power our organizations, mirror our company culture as a family-owned business,” says Yenkin-Majestic president and CEO Andrew O. Smith. “True Value has been a respected partner of ours for many years, and we know they will take the Majic product line to new heights. We can think of no finer company to carry forward the legacy of our consumer paint business. This transaction also allows us to focus our resources and reinvest in our polymers business.”
About True Value Company
True Value Co. is headquartered in Chicago and is one of the world’s leading hardlines wholesalers with a globally recognized brand and over 70 years of experience serving independent hardware retailers. True Value Co. provides customers in over 60 countries an expansive product set of market-customized assortments at highly competitive prices, superior product availability, innovative marketing programs and a la carte value-added services like e-commerce ship-to-store, store remodel support and True Value University. True Value operates 13 regional distribution centers, and there are approximately 2,500 associates serving over 4,500 stores across the U.S. and internationally. Click here to learn more.
The Yenkin-Majestic Paint Corp., based in Columbus, Ohio, is the owner of OPC Polymers, one of North America’s leading suppliers of coatings resins. OPC Polymers serves the paint industry through continuous innovation in its broad portfolio of alkyd, copolymer and specialty resins. This family-owned business began in 1920. Click here to learn more. Read the full history of the company in this article from the Paint & Decorating Retailer magazine archives.