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Sherwin-Williams spends cash on paint maker

Nov. 13, 2012 @ 12:00 AM

CLEVELAND -- Sherwin-Williams is buying the privately held Mexican paint company Consorcio Comex in an all-cash deal valued at about $2.34 billion.

Consorcio Comex, S.A. de C.V., sells paints and coatings under several brands in the United States and Canada, and it sells architectural and industrial coatings in Mexico. It has company-operated stores and also works with independent paint dealers.

The company is based in Mexico City and had a total of $1.4 billion in sales last year. It employs 7,200 people and runs manufacturing sites in Mexico, the United States and Canada.

Sherwin-Williams, based in Cleveland, said the deal price includes assumed debt. The Sherwin-Williams Co.'s brands include Dutch Boy, Minwax, Krylon and its namesake paints.

Williams-Sonoma exec hired as Best Buy CFO

NEW YORK -- Consumer electronics chain Best Buy said Monday that a former Williams-Sonoma executive will become its new chief financial officer beginning Dec. 10.

It's the latest executive move for the Minneapolis company since turnaround expert Hubert Joly joined as CEO in August.

Sharon McCollam, 50, had been chief operating officer and chief financial officer at the home goods retailer before retiring. She also takes the title of chief administrative officer at Best Buy. She replaces James Muehlbauer, who said he was leaving in October. Muehlbauer will continue to advise the company until the end of the fiscal year in February.

Gas prices in Ohio start higher to begin week

COLUMBUS -- For the first time in nearly a month, Ohio drivers are seeing an increase in gas prices as the week begins.

The average price for a gallon of regular gas was $3.40 in Monday's survey from auto club AAA, the Oil Price Information Service and Wright Express. That's 8 cents higher than a week ago but level with the average at this time last year.

Nationally, the average cost has dropped to its lowest level since midsummer. It was about $3.44 per gallon on Monday.

That's down slightly from $3.47 a week ago and about the same as the average a year ago.

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