Paint Brand Ownership: Who Controls the Paint Aisle?

Your Sherwin-Williams paint and your Valspar paint are made by the same company. Your Behr paint is exclusive to Home Depot, while your Benjamin Moore paint is sold only through independent dealers. The paint aisle is more concentrated than it looks, with four companies controlling most of the global market.

In June 2026, the biggest attempted acquisition in paint industry history collapsed. Sherwin-Williams and Nippon Paint ended their joint pursuit of AkzoNobel, the Dutch paintmaker behind Dulux and Farrow & Ball. The failed deal leaves the industry's competitive structure intact, but barely.

The Big Four: Who Controls the Paint Industry

The global paint and coatings market is worth approximately $200 billion. Four companies dominate:

Each company has a different geographic strength and channel strategy. Sherwin-Williams dominates the US architectural paint market through its company-operated store network. PPG leads in automotive and industrial coatings. AkzoNobel is the European and international leader. BASF focuses on automotive OEM coatings.

Sherwin-Williams: The American Juggernaut

Sherwin-Williams (NYSE: SHW) is the largest paint and coatings company in the Americas. Founded in 1866 and headquartered in Cleveland, Ohio, the company operates more than 5,400 company-operated stores and branches.

Sherwin-Williams' brand portfolio:

• Sherwin-Williams - the flagship brand, sold exclusively through company stores
• Valspar - acquired in 2017 for $11.3 billion, sold through Lowe's
• Dutch Boy - value-oriented brand
• Krylon - spray paints
• Minwax - wood stains and finishes
• Thompson's WaterSeal - waterproofing
• Cabot - deck and wood care
• HGTV HOME by Sherwin-Williams - co-branded line
• Suvinil - Brazilian paint brand

The Valspar acquisition in 2017 was the deal that made Sherwin-Williams the clear US market leader. At $11.3 billion, it was one of the largest paint industry acquisitions in history.

The Failed AkzoNobel Acquisition

In 2026, Sherwin-Williams teamed up with Japan's Nippon Paint Group to attempt a joint acquisition of AkzoNobel. The most recent offer valued AkzoNobel at €73 per share, or approximately €12.5 billion ($14.5 billion). The plan involved Nippon making a public takeover offer, followed by a split of AkzoNobel's assets between the two companies.

AkzoNobel rejected both joint all-cash offers. On June 3, 2026, Nippon Paint and Sherwin-Williams announced they were ending their pursuit. AkzoNobel confirmed it would proceed with its planned merger of equals with US-based Axalta Coating Systems, a deal announced in November 2025 that would create a paint and coatings group with a combined market value of approximately $17 billion.

AkzoNobel shares fell sharply after the announcement, as investors had priced in the possibility of a higher bid.

PPG Industries: The Coatings Specialist

PPG Industries (NYSE: PPG) had 2024 revenue of $15.8 billion and employs approximately 45,000 people. PPG's strength is in automotive and industrial coatings, but it also has a significant architectural paint business.

PPG's key brands:

• Glidden - acquired from AkzoNobel in 2012 for $1.05 billion, sold at Home Depot
• Olympic - stain and paint brand
• Sikkens - automotive refinish coatings
• Comex - acquired in 2014 for $550 million after Sherwin-Williams was blocked by Mexican regulators

The Comex acquisition is a notable story. Sherwin-Williams originally agreed to acquire Comex, but Mexican regulators blocked the deal. PPG stepped in and bought Comex instead, gaining a strong position in the Mexican paint market.

AkzoNobel: The European Leader

AkzoNobel (Euronext Amsterdam: AKZA) is Europe's largest paint and coatings company, with 2024 revenue of approximately €9.6 billion. Founded in 1792, the company operates in more than 150 countries.

AkzoNobel's brand portfolio:

• Dulux - the global flagship brand
• Farrow & Ball - premium British paint, acquired in 2014 for approximately £275 million
• Flexa - Dutch decorative paint
• Hammerite - metal paint
• Coral - Turkish paint brand
• Levis - Spanish paint brand
• International - protective coatings
• Sikkens - automotive refinish (note: PPG also sells Sikkens in some markets)

AkzoNobel's boards unanimously recommend the merger with Axalta, citing "compelling strategic rationale." The merger would combine AkzoNobel's decorative paint strength with Axalta's automotive and industrial coatings portfolio.

Masco and Berkshire Hathaway: The Retail Channel Players

Two additional companies control significant paint brands through retail channel exclusivity:

• Behr - acquired in 1999, exclusive at Home Depot
• KILZ - primer brand

Behr's exclusivity at Home Depot is a major competitive advantage. Home Depot is the largest home improvement retailer in the US, and Behr is the only major paint brand on its shelves. This arrangement gives Masco access to Home Depot's massive customer traffic without needing its own retail stores.

• Benjamin Moore - acquired in 2000, sold through independent dealers

Benjamin Moore is the anti-Behr. Instead of a single big-box retailer, Benjamin Moore sells through a network of independent paint dealers. This channel strategy positions Benjamin Moore as the premium, professional-friendly brand. Warren Buffett's Berkshire Hathaway has owned Benjamin Moore for over 25 years and has let it operate independently.

For more on Berkshire Hathaway's brand portfolio, see our analysis of what brands Berkshire Hathaway owns.

RPM International: The Niche Player

RPM International (NYSE: RPM) is smaller than the Big Four but owns several well-known consumer brands:

• Rust-Oleum - rust-preventive coatings and spray paints
• DAP - caulks and sealants
• Liquid Nails - construction adhesives
• Zar - wood finishes

RPM focuses on specialty coatings and sealants rather than competing head-on with Sherwin-Williams or PPG in architectural paint. This niche strategy has made RPM a consistent performer in the coatings industry.

What This Means for Consumers

Paint brand ownership affects your wallet through retail channel exclusivity:

• Home Depot = Behr (Masco-owned)
• Lowe's = Valspar (Sherwin-Williams-owned)
• Sherwin-Williams stores = Sherwin-Williams (company-owned)
• Independent dealers = Benjamin Moore (Berkshire Hathaway-owned)

This means you cannot buy Behr at Lowe's or Valspar at Home Depot. The paint aisle is not a free market. It is a set of exclusive arrangements between paint manufacturers and retailers.

Shared formulations are another factor. When Sherwin-Williams acquired Valspar for $11.3 billion, it gained Valspar's formulations, manufacturing facilities, and R&D. Some Valspar products may eventually share formulations with Sherwin-Williams products, even though they are sold at different retailers at different price points.

For more on how consolidation limits consumer choice, see our analysis of why competing brands are often owned by the same company and our post about the biggest brand acquisitions of all time. You can also read our existing post on who owns the paint industry for additional context.

FAQ

Who owns Valspar?

Sherwin-Williams (NYSE: SHW) acquired Valspar in 2017 for $11.3 billion. Valspar is now a brand within the Sherwin-Williams portfolio, sold primarily through Lowe's home improvement stores.

Who makes Behr paint?

Behr is owned by Masco Corporation (NYSE: MAS), which acquired the brand in 1999. Behr is exclusive to Home Depot. Masco also owns KILZ primer.

Is Benjamin Moore owned by Berkshire Hathaway?

Yes. Berkshire Hathaway acquired Benjamin Moore in 2000. Benjamin Moore sells through independent paint dealers rather than big-box retailers. Warren Buffett's company has owned Benjamin Moore for over 25 years.

Who owns Dulux?

Dulux is owned by AkzoNobel (Euronext Amsterdam: AKZA), the Dutch paint and coatings company. Dulux is AkzoNobel's global flagship brand, sold in more than 150 countries. AkzoNobel is pursuing a merger of equals with Axalta Coating Systems.

Conclusion

The paint industry is a textbook case of category consolidation. Four companies control most of the global market. Retail channel exclusivity means your choice of paint brand is largely determined by which store you walk into. The failed $14.5 billion AkzoNobel acquisition in June 2026 shows that even the biggest players are still trying to get bigger, but regulators and target boards can still say no.

Want to see who owns your other favourite brands? Browse our complete database of household consumer goods brands or explore our other industry ownership guides, including flooring brand ownership and power tool brand ownership.

Explore Related Brands

• Sherwin-Williams - Largest US paint maker, NYSE: SHW
• Valspar - Sherwin-Williams brand, exclusive at Lowe's
• Behr - Masco brand, exclusive at Home Depot
• Benjamin Moore - Berkshire Hathaway brand, independent dealers
• Dulux - AkzoNobel flagship brand, sold in 150+ countries
• Rust-Oleum - RPM International brand, specialty coatings

Browse all household consumer goods brands →

Sources

1. Sherwin-Williams. "Nippon Paint Group and Sherwin-Williams End Pursuit of AkzoNobel." June 3, 2026. investors.sherwin-williams.com 2. AkzoNobel. "Confirms that Nippon Paint and Sherwin-Williams are no longer pursuing a public offer." June 3, 2026. akzonobel.com 3. Bloomberg. "Nippon Paint and Sherwin-Williams End Effort to Buy Akzo Nobel." June 3, 2026. bloomberg.com 4. Yahoo Finance. "AkzoNobel Shares Plunge After Sherwin-Williams, Nippon Paint Drop $14.5 Billion Bid." June 2026. finance.yahoo.com 5. Sherwin-Williams. "About The Sherwin-Williams Company." sherwin-williams.com

All brand ownership data verified through WhoBrands.com's proprietary research methodology. Last updated: April 29, 2026.