Valspar has agreed to acquire Australian paint maker Wattyl Ltd for approximately $124 million (A$142 million) and also assume its existing debt. The deal will help Valspar build on its presence in the Asia Pacific region and presents new opportunities for growth, Valspar said. It is subject to approval by shareholders and regulatory authorities. Under the deal, Wattyl, which began operations in 1915 and owns the Wattyl Solagard and Estapol brands, will hand over its 30 percent share of the domestic paints market to Valspar.

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