Content about Valspar

NEW ORLEANS — The recent marriage of Valspar and Ace Hardware Corp. was by far the most colorful product story at Ace's Spring Convention and Exhibits held here.

Not only were dealers eager to see Ace's paint department vision of the future, they were hungry for details on the incentives in place to retrofit their stores.

One retailer suggested that the Valspar topic boosted attendance at the show. Others on the floor ran the gamut from dealers who embrace the change enthusiastically, to those who want to stay with their existing brands, notably Benjamin Moore.

New Orleans -- With the ink still wet on the Valspar-Ace Hardware deal, Ace retailers got their first look at Ace's vision for its Valspar paint departments. The vision includes a pair of endcaps and 8-ft. color displays featuring Clark & Kensington on one side and Valspar on the other. In between the rests a counter, mixing equipment and an overhead "Color comes home" message.

Ace Hardware Corp.’s paint program is going through a major makeover with Valspar stepping up as a supplier and taking over the co-op’s paint manufacturing facilities. 

Ace and Valspar announced a long-term deal, under which Valspar will manufacture and supply Ace-branded paint products to Ace dealers. The companies also announced that Valspar has acquired Ace Hardware’s paint manufacturing assets, including two manufacturing facilities located near Chicago.

The mixing of paint and primer together, in the same can, has swept through the coatings industry like no other innovation. Almost every manufacturer and retailer has added a version of this product to its assortment, although some have done so reluctantly. Within the paint industry, many dismiss paint-and-primer combos as a marketing ploy that raises the price of a gallon of paint. Others say it can save time and money and has a rightful place as a consumer option.

The Dallas Business Journal has reported that paint manufacturer Valspar is closing a single plant in Texas as part of a business consolidation. 

The plant to be closed by Aug. 15 is located in Grand Prairie, Texas, outside of Dallas.

According to the article, no other plants are planned to be closed. About 58 people are expected to be laid off by the consolidation. 

Valspar Corp. has announced that its board of directors elected Gary Hendrickson, Valspar’s president and CEO, as chairman of the board, effective immediately. Hendrickson succeeds William Mansfield, who is retiring after serving as chairman since August 2007, as CEO from 2005 to 2011, and as president from 2005 to 2008.

The appointment completes a transition plan put in place a year ago, according to the Minneapolis-based paint and coatings manufacturer.

Valspar Paint has announced a replacement guarantee for Lowe’s customers who buy a gallon of paint and are simply dissatisfied with the color. From now until Oct. 8, 2012, Valspar is offering a free replacement color to anyone who does not “absolutely love” their first color choice. The Love Your Color Guarantee applies only to purchases of Valspar Signature Colors Interior Paint at Lowe's, and will be issued through a rebate for up to two gallons of a replacement Valspar paint color.

Paint manufacturer Valspar has announced that John Wardzel has joined the company as senior VP global operations, reporting to Steven Erdahl, executive VP. In this role, Wardzel will provide executive leadership of Valspar’s global operations and becomes an officer of the company.

Brenda McCormick, Valspar’s assistant controller and senior finance director, was promoted to Controller, according to a Feb. 16 filing with the Securities and Exchange Commission (SEC). McCormick also served as  finance director at Valspar. 

In previous experience, McCormick held positions as director financial reporting, planning and analysis at Lawson Software and director financial reporting - consumer products at International Multifoods.

Paint manufacturer Valspar reported first-quarter sales of $885.6 million, a 5.1% increase from the first quarter of 2011. Net income for the first quarter, which ended Jan. 27, was $55.8 million, compared with net income of $33.4 million in the same quarter a year ago.

The Valspar Corp. has announced the opening of a new research and development center in Shunde, China. The Valspar Applied Science and Technology Center will employ more than 200 scientists to support the continued growth of Valspar in Asia Pacific and Valspar’s research and development on a global basis.