Shares of PPG Industries Inc. (PPG) - Get Report were falling by 6.24% to $106.51 on Thursday afternoon, as the manufacturer and distributor of a range of coatings and specialty materials said today that is has acquired The Crown Group.
The U.S.-based Crown is being acquired from High Road Capital Partners and Charter Oak Capital Partners. Financial terms of the deal were not disclosed.
"Crown is a leader in coatings application and this acquisition will enhance PPG's ability to service its original equipment manufacturer (OEM) customers," PPG executive VP Viktor Sekmakas said.
More of What's Trending on TheStreet:
- Chipotle CEO Should Be Canned for Not Apologizing to Sickened Customers in Virginia, Analyst Says
- O.J. Simpson's 4 Biggest Business Achievements
- Best Buy's Geek Squad Is a Mess According to Customer Reviews, Opening the Door for Amazon's Entry
- Sears' Kenmore Products on Amazon Is Hurting Home Depot, Jim Cramer Explains
- Former Apple Exec: 'It's Sad to See Apple Slipping to the Position of Follower'
- 5 Celebrities That Have Lost Big in Real Estate Like Golden State Warriors Star Steph Curry