— Furniture Today,
MINNEAPOLIS — Major coatings supplier Valspar Corp. has acquired a majority interest in Huarun Paints, one of China’s largest independent coatings companies.


The all-cash transaction is expected to close by the end of July. Valspar officials said it would slightly decrease the company’s earnings in fiscal 2013 and 2014.

The purchase price wasn’t disclosed.

“Valspar is pleased to expand its presence in China, with the Huarun Paints management team and current shareholders as our partners,” said President and CEO William Mansfield. “By combining the resources of our two companies, we intend to expand Huarun Paints’ product offering and geographic reach in the world’s fastest-growing coatings market.”

Huarun Paints, which had sales of $180 million in 2012, is a leading China supplier of wood, furniture and architectural coatings. Its products are sold throughout China via a network of distributors and paint stores.

The majority stake in Huarun Paints had been owned by Champion Regal, a Hong Kong-based investment company.