RPM Announces Acquisition Of South Africa's Spraymate Group

(RTTNews) - RPM International Inc. (RPM) said Monday that its Rust-Oleum Group has acquired Spraymate Group, the producer of South Africa's leading aerosol paint brand.

Based outside of Johannesburg, South Africa, Spraymate has annual net sales of about $5 million.

Terms of the deal, which is expected to be accretive to earnings within one year, were not disclosed.

The majority of Spraymate's sales are in the decorative/retail market through both big box stores and independent dealers under the Spraymate brand, while the company also provides marking paints to the mining industry under the Mine Mate brand.