The divestiture is expected to close in the second half of 2025, subject to the approval of the relevant competition authorities.

According to the BASF, the decorative paints business in Brazil is the only segment of the group that is geared towards direct customer sales. In addition, the business operates almost exclusively in Brazil and has limited synergies with other coatings businesses within BASF, the company said.

Anup Kothari, member of the board of executive directors of BASF and responsible for the Coatings division, commented: “We are convinced that the decorative paints business will continue to thrive as part of Sherwin-Williams.”

“For more than 60 years, Suvinil has been synonymous with innovation and quality. The business is highly complementary to Sherwin-Williams in Latin America, as the Suvinil brand is well-known and highly-trusted by purchasing influencers and specifiers across the value chain. We are excited to capitalize on the strengths of both companies to further enhance value for customers,” said Heidi G. Petz, CEO of Sherwin-Williams.

In the second quarter of 2025, BASF said that it intends to approach the market to further explore strategic options for its remaining Coatings activities, which include automotive OEM coatings, refinish coatings and surface treatment.