Midas sells to Barloworld

Barloworld Limited has signed heads of agreement with the owners of Midas Paints, trading as Midas Earthcote, to acquire the company for a cash consideration of approximately R40 million. Midas has two main lines of business - the Earthcote range of wall coatings and the Midas branded paint range focused on the contractor market.
Midas is to be run as a separate entity within Barloworld Coatings and existing management and staff will be retained.