Sherwin-Williams (NYSE:SHW) has entered into a definitive agreement to acquire BASF’s Brazilian architectural paints business, including the well-known Suvinil brand, for $1.15B in an all-cash transaction.

Linklaters and Jones Day are advising on Sherwin-Williams acquisition of BASF’s Brazilian decorative paints business for $1.15 billion in a cash and debt-free deal with completion expected in late 2025 pending regulatory approval.

BASF SE will sell its Brazilian paints unit to Sherwin-Williams Company for $1.15 billion, as part of the German company’s wider strategy to focus on its main chemicals, industrial and nutrition divisions.

Williams, an American company, will acquire the unit, which has about 1,000 employees, said the world's largest chemicals group.

Sherwin-Williams (SHW) announced it has entered into a definitive agreement with BASF Group (BASFY) to acquire BASF’s Brazilian architectural paints business, “Suvinil,” for $1.15B in an all-cash transaction.