Sherwin-Williams, a provider of architectural paint, agreed to acquire European industrial coatings business of Sika, a firm that manufactures and sells specialty chemical-based products, for $82m. The transaction is expected to close in the beginning of 2022. "This transaction fits our strategy of acquiring complementary, high-quality, differentiated businesses that add to our profitable growth momentum. The business brings us scale, unique technology, a strong sales and marketing team, technical service capabilities, strategically located manufacturing, and leading specification and approval positions, all of which we can leverage further throughout Europe and other regions across the world. Additionally, synergy opportunities give us great confidence in accelerating the already strong financial performance of the business. We look forward to officially welcoming Sika's industrial coating employees to Sherwin-Williams upon the close of the transaction at the beginning of next year," John G. Morikis, Sherwin-Williams Chairman, President and CEO.