PPG to sell North American architectural coatings unit for $550 million

PPG has agreed to sell its US and Canadian architectural coatings business to the private equity firm American Industrial Partners for $550 million. In addition to well-known consumer brands of interior and exterior house paint such as Glidden, the sale includes consumer caulks, adhesives, and sealants, such as the Liquid Nails brand. The business, which accounted for about 10% of PPG’s sales in 2023, employs more than 6,000 people. PPG will retain automotive, specialty, and industrial coatings businesses globally, as well as architectural coatings outside North America.