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Spectrum Paint Co. and members of the Richard family have announced plans to acquire the assets of Richard’s Paint Mfg. Co. in Rockledge, Florida.
Spectrum, together with Eric Richard and Edward Richard Jr., will make up the ownership team of the new Rockledge Paint Co., which will continue to produce the Richard’s brand of paint. Eric Richard will serve as president of the newly formed Rockledge Paint. Spectrum Paint and Rockledge Paint will operate as two separate organizations.
“This is a perfect union between a successful family-owned paint manufacturer and a large independent paint dealer,” says Eric Richard.
“We look forward to growing our existing brands as well as expanding our market share with the addition of our own brand of products,” says Travis Detter, president of Spectrum Paint. “I have known and trusted the Richard family for more than 20 years, which is why we are excited for this new opportunity that will help secure our future success.”
Founded by Edward Richard Sr. more than 60 years ago, Richard’s Paint became one of the most successfully family-owned manufacturing companies in the U.S.
Spectrum Paint currently has more than 80 locations throughout the U.S., primarily selling Benjamin Moore and PPG paints and coatings.
The acquisition is expected to be finalized Nov. 30th.
