Wattyl
Wattyl is an Australian-based company that specialises in the manufacturing and marketing of architectural and decorative paints and special purpose and protective coatings. The company currently operates in Australia and New Zealand where it is the second largest brand in the architectural and decorative paints market after Dulux.
Wattyl was listed on the Australian Stock Exchange (ASX) in 1959, trades under the code WYL and is in the S&P/ASX 300 Index. Wattyl currently employs over 1500 people in Australia and New Zealand. On 25 May 2010, it was announced that the American company, Valspar, was in talks to buy out Wattyl. This deal was finalized in late June 2010, this deal valued the company at $142 million.[1]
Wattyl was delisted from the Australian Stock Exchange on the 22/09/2010 following the completion of the scheme of arrangement whereby all the Company's shares were acquired by The Valspar (Australia) Paint Acquisition Pty Limited.[2]
Wattyl was the first Australian manufacturer of two pot polyurethanes for the DIY market and a very successful marketing campaign during the 1960s and 1970s led to the brand name Estapol becoming the Australian term for the DIY clear finishing of domestic timber surfaces with one or two pot polyurethane finishes.
The Wattyl range of products include the brands Granosite, Solagard, Estapol and Killrust.
Wattyl is the current main sponsor of the Lake Taupo Cycle Challenge event in New Zealand.
On March 20, 2016, Sherwin-Williams announced its intention to pay $9.3 billion US to acquire Valspar. The acquisition finalized on June 1, 2017