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Acquisitions Benjamin Moore

Benjamin Moore Acquires UK-Based Shaw Paints

(BRK.A), (BRK.B)

Something that Warren Buffett is always fond of are bolt-on acquisitions that bolster Berkshire Hathaway’s existing companies. To that end, Benjamin Moore & Co. has acquired its United Kingdom distribution partner, Shaw Paints Ltd.

Prior to this transaction, Shaw Paints Ltd was the exclusive UK distributor of Benjamin Moore premium quality products and expansive color offerings to consumers, designers and professionals alike. Effective immediately, industry veterans and Shaw Paints co-founders, Craig and Helen Shaw, will join the Benjamin Moore team and remain based in the UK.

With this acquisition, Shaw Paints Ltd will become Benjamin Moore UK, in an effort to accelerate the brand’s growth in the United Kingdom.

The newly formed Benjamin Moore UK will continue to operate showrooms in Slough, Chelsea and Wilmslow, as well as fulfillment to a network of authorized stockists throughout the market.

“We’re thrilled to formally incorporate Shaw Paints Ltd into our international sales operations as they’ve been a trusted partner these past five years,” said Dan Calkins, Benjamin Moore Chairman & CEO. “With their sterling track record, this will enable Benjamin Moore to increase scale throughout the region and offer our best-in-class products to more UK customers.”

“The Benjamin Moore brand has been exceptionally well received in the UK market since the launch in 2015 and we have experienced strong growth as a result of our strategic partnership with Benjamin Moore,” said Craig Shaw, Shaw Paints Ltd Co-Founder. “We’re proud of the business we operate in the United Kingdom and through this acquisition, we expect to further accelerate growth with our industry-leading products and unparalleled color offerings.”

© 2020 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Benjamin Moore

Benjamin Moore Opens New Texas Distribution Center

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Berkshire Hathaway’s paint manufacturer Benjamin Moore has opened a new distribution center in Lewisville, Texas. The new 238,000 square foot distribution center will accommodate expansion, enhance service and welcome new job opportunities in the flourishing Dallas-Fort Worth market.

“Upgrading our distribution center will allow us to not only increase local business, but to support a thriving community through employment and business opportunities,” said Bill Johnson, Benjamin Moore Senior Vice President, Supply Chain. “We are thrilled to continue to grow our presence in the Dallas-Fort Worth market as our new Lewisville distribution center is equipped to support expanded business throughout the area.”

Benjamin Moore previously operated in a 70,000 square foot distribution center in Mesquite, Texas that will continue to serve as its manufacturing facility. By increasing its warehouse presence by more than 168,000 square feet, the new distribution center in Lewisville created 13 new jobs.

The facility is leased to Benjamin Moore by Cushman & Wakefield and is situated along East State Highway 121, in a flourishing area of Lewisville that includes a variety of distribution centers.

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Benjamin Moore

Benjamin Moore & the Alpha Workshops Create Handmade Designer Wallpaper

(BRK.A), (BRK.B)

Berkshire Hathaway’s Benjamin Moore, a leading paint, color and coatings brand, along with The Alpha Workshops, the nation’s only nonprofit organization providing decorative arts education and employment to adults and youth with disabilities and other vulnerabilities, has announced the launch of their bespoke wallpaper capsule collection.

After decades of close collaboration, the Benjamin Moore color specialists have partnered with The Alpha Workshops wallpaper artisans to create this special edition of 15 hand-painted wallpapers featuring Benjamin Moore premium paints including CENTURY®, Aura® and Studio Finishes®.

“The Alpha Workshops has always used Benjamin Moore as our preferred paint since we first introduced our signature wallpaper offerings in 2001,” said Ken Wampler, Founder and Executive Director of The Alpha Workshops. “This ultra-premium collection enhances our longstanding partnership and exudes the highest level of quality while coating walls in an artful, new way.”

The Benjamin Moore and The Alpha Workshops Capsule Collection contains five patterns realized in three lustrous colorways. In Kimono, paints take the form of a radiant graphic floral, imprinted atop a rich, matte background. In Newport, they form delicate grids, stamped on the paper in layers to create a geometric masterpiece. In Topography, they’re slathered onto a stamp and applied in thick, glossy layers for a marbleized effect. While in Spencer and Horizon, they’re brushed on in feather-light strokes to textured paper that has been folded like origami. For most of the patterns, it takes a full day to create a single roll.

“The Collection speaks to the basic color groups of primaries and neutrals, but all with a layer of glamour,” said Ellen O’Neill, Benjamin Moore Director of Strategic Design Intelligence. “Benjamin Moore premium products coupled with the care and precision by Alpha’s team, create captivating prints in a palette that can be easily mixed and matched.”

The Benjamin Moore and The Alpha Workshops Capsule Collection will be available to order at select Benjamin Moore retailers throughout North America and internationally, as well as from The Alpha Workshops website at alphaworkshops.org. All wallpapers are made-to-order and cost $125 per yard. For a truly custom-made paper, customers and designers can add a touch of their hand by choosing a color scheme that is all their own.

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Benjamin Moore

Benjamin Moore Elevates Calkins to Chairman & Chief Executive Officer

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Benjamin Moore & Co., North America’s favorite paint, color and coatings brand, today announced that Dan Calkins, currently President and Chief Operating Officer, has been named Chairman and Chief Executive Officer, effective immediately. Calkins now reports to Berkshire Hathaway Vice Chairman Greg Abel and succeeds Mike Searles, who retired after five years at the helm of the of the company.

Calkins began his career with the company in 1987 as a sales trainee. Throughout his 32-year tenure with Benjamin Moore & Co., Calkins has held a series of progressively influential and responsible positions, bringing significant leadership, sales and industry expertise to his new post. In recent years, Calkins served as President of Global Sales where he influenced growth and an ambitious strategy for expanding distribution through the independent channel.

“Benjamin Moore & Co. has long established itself as an industry leader, and under Dan Calkins’ guidance, we believe they are primed for an accelerated trajectory into the future,” said Greg Abel, Berkshire Hathaway Vice Chairman. “Dan embodies the Benjamin Moore core values and both his proven track record and strong business acumen give us incredible confidence for the company’s future success.”

Under Calkins’ leadership, Benjamin Moore & Co. will remain dedicated to the vision of its founder, Benjamin Moore, in 1883: produce the highest quality paints and color in the industry, and deliver them through a nationwide network of knowledgeable, customer-friendly, independent retail locations. With a commitment to research and development unrivaled in the architectural coatings industry, Benjamin Moore & Co. is determined to continue to service its customers including painting contractors, architects, interior designers, national accounts and retailers with the best products and services.

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Benjamin Moore

Benjamin Moore Awarded for its Supply Chain Academy at SCM World

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Berkshire Hathaway’s Benjamin Moore & Co., was awarded accolades in the fourth annual SCM World Power of Profession Awards.

SCM World, a Gartner community, recognized the company with its Talent Payback of the Year and Talent Breakthrough of the Year awards.

This recognition acknowledges the efforts by Benjamin Moore & Co. to transform and modernize its entire supply chain, increase employee retention and improve employee engagement. Benjamin Moore & Co. was selected out of six finalists within the Talent Breakthrough of the Year category.

“We are honored to be recognized by our peers at SCM World and to be among a remarkable list of companies awarded for its efforts in supply chain initiatives,” said Barry Chadwick, Benjamin Moore Executive Vice President Operations. “This recognition represents the efforts our employees put in every day to advance their knowledge and improve the Benjamin Moore & Co. customer experience.”

According to the company, Benjamin Moore & Co. has made significant efforts to transform and modernize its entire supply chain, including a transition to a world-class enterprise resource planning system and a successful Supply Chain Academy initiative that led to the promotion of 22% of its salaried employees and an 85% retention rate.

To date, nearly 336 Benjamin Moore & Co. employees have taken advantage of this program. Employee engagement results have increased 10% year-over-year and exceeded the Conference Executive Board Global High Performing Norm in every category.

The SCM World Power of Profession Awards identify, recognize and enable collective learning from the most impactful and innovative supply chain initiatives.

The awards are unique in that they are voted on by fellow supply chain professionals, providing a chance to share lessons and best practices, and shape the future of supply chain.

The winners were announced February 6th at an award ceremony, held as part of the SCM World Live Americas conference in Miami.

Other award winners included Pfizer, 3M, Land O’Lakes, Schneider Electric and P&G.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Benjamin Moore

Benjamin Moore Introduces First Scuff-Resistant Paint

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Berkshire Hathaway’s Benjamin Moore has introduced Ultra Spec SCUFF-X – the first-of-its-kind, one-component interior latex paint engineered specifically to resist scuffmarks in high-traffic, commercial environments.

According to the company, SCUFF-X provides superior scuff-resistance to two-component coatings, without the strong odor, pre-mixing, short pot-life and application difficulties associated with similar products.

“Our proprietary scuff-resistant technology minimizes repainting, retouching and cleaning, while offering easy application, low odor and quick dry-time,” said Alfredo Valiente, Benjamin Moore Brand Manager. “The Ultra Spec line of coatings is the trusted solution for commercial contractors and introducing SCUFF-X to the portfolio will dramatically improve how professionals maintain the busiest areas of their facilities.”

Recommended areas for use include high-traffic, commercial spaces such as hallways, stairwells, lobbies, offices, gymnasiums, locker rooms, public restrooms, retail fitting rooms and much more. The cutting-edge formulation enables the coating to be low-VOC, eligible for LEED® v4 credit, and CHPS certified.

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Benjamin Moore

Benjamin Moore Becomes Innovation Partner with American Institute of Architects

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Berkshire Hathaway’s wholly-owned Benjamin Moore has become an Innovation Partner of the American Institute of Architects (AIA). The new relationship will leverage Benjamin Moore’s thought leadership in the design and architecture market through content and education programs, while also providing support to students of architecture who are on the path to licensure.

Founded in 1857, the American Institute of Architects works to create more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through nearly 300 state and local chapters, the AIA advocates for public policies that promote economic vitality and public wellbeing. Members adhere to a code of ethics and conduct to ensure the highest professional standards. The AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation and world.

“We are delighted to have the support of Benjamin Moore as an Innovation Partner of the AIA,” noted Robert Ivy, FAIA, EVP/Chief Executive Officer of the AIA. “Their knowledge and expertise in paints and stains can help us serve architects and advance good design in the built environment.”

“Benjamin Moore is proud to partner with the AIA on their efforts to offer continuing education and ongoing support for the architectural community,” said Veronica Connallon Arcaroli, Director, Architect and Designer Segment at Benjamin Moore.

“We are committed to providing resources and opportunities that help architects and other trade professionals enhance their development and growth within the industry.”

© 2017 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Benjamin Moore

Benjamin Moore Ranked Number 1 in Customer Satisfaction By J.D. Power

(BRK.A), (BRK.B)

Off to a terrific revenue jump in 2016, Berkshire Hathaway’s paint, color and coatings brand Benjamin Moore has something additional to crow about, as the company has been ranked highest in customer satisfaction with both interior paints and exterior stains by J.D. Power.

According to the 2016 Paint Satisfaction Study, Benjamin Moore achieved the highest numerical scores over all other brands among interior paints (836) and exterior stains (814) on a 1,000-point scale.

“Benjamin Moore is proud to be recognized as the highest-ranking in customer satisfaction for our paints and stains,” said Mike Searles, President and CEO of Benjamin Moore. “We are committed to developing the most innovative, best-performing coatings that meet the needs of customers, contractors and designers, and this honor not only indicates the superiority of our products in the marketplace, but also demonstrates that only Benjamin Moore can make the impossible possible.”

J.D. Power measures customer satisfaction in the interior and exterior paint and stain market across six factors: application, design guides, durability, price, product offerings and warranty/guarantee. Benjamin Moore scored highest in the application, durability and product offerings factors within the interior paint brand segment of the study. Additionally, the brand achieved the highest score in all six study factors within the exterior stain brand segment.

The study is based on 16,128 responses measuring experiences and perceptions of customers who purchased and applied interior paint and exterior stain in the previous 12 months. Customers were surveyed from January through February 2016.

Benjamin Moore’s Strong Growth

2015 was a good year for Benjamin Moore, with the company having its best results in a decade.

The company is off to a strong start for 2016, with its best first quarter in five years.

The key drivers of the growth is a commitment to new distribution outlets.

Benjamin Moore added 265 new outlets in 2015, with a net gain after store closing and changes in brands of 79 locations.

The growth is a combination of operating conversions as existing paint dealers switch to the Benjamin Moore brand, and dealers branching out and opening new outlets.

The company emphasizes that its network of independent dealers is at the heart of customer satisfaction, as people receive a high level of service.

At the 2016 Berkshire Hathaway annual meeting, Dan Calkins, Benjamin Moore’s Executive Vice-President of Sales, noted that Benjamin Moore dealers give excellent customer service “because their livelihoods depend on it.”

Benjamin Moore has made a conscious decision to not sell its products at big box stores, such as Home Depot and Lowe’s.

The company is constantly innovating its product line, and will have a new product launch in November.

© 2016 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Benjamin Moore Kraft Heinz

Berkshire’s Hidden Ownership of Kraft Heinz Shares

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Berkshire Hathaway has come out of the Kraft Heinz merger as its biggest single shareholder with 325,442,152 shares of common stock and 80,000 shares of 9% cumulative compounding preferred stock, Series A.

Berkshire’s partner in the acquisition, 3G Capital, is the second largest shareholder with 293,536,058 shares of common stock.

Combined, Berkshire and 3G own 51% of the new consumer food giant.

Berkshire’s Additional Hidden Ownership

As they say in the TV ads, “But wait there’s more!”

Berkshire Hathaway has an additional ownership stake in Kraft Heinz through the pension fund of its subsidiary, Benjamin Moore & Co.

Benjamin Moore’s retirement plan owns 192,666 shares of common stock in its own right.

As usual with all things Berkshire Hathaway, it’s good to keep in mind that the conglomerate is like a series of nested dolls, and in its companies, or sometimes even in its companies within its companies, there are often hidden treasures.

© 2015 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Benjamin Moore

Benjamin Moore Launches $50 Million Ad Campaign

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With much of the house paint sold to do-it-yourselfers these days being purchased at big-box stores, such as Lowes and Home Depot, Berkshire Hathaway’s Benjamin Moore has launched an aggressive campaign to highlight the brand as a premium product that is sold exclusively at 5,000 small retailers.

The campaign, which uses the new tagline—”Paint like no other,” parodies the big-box store experience by using two marionettes to represent the big-box store staff. The ads emphasis the professionalism of the Benjamin Moore retailers, which are small, locally-owned businesses.

The $50 million campaign is using a mix of TV, radio, print and digital media to reach consumers that have been increasing their DIY projects now that the 2009 recession is firmly in the rear-view mirror.

The ad campaign is Benjamin Moore’s largest ever, and is the first to be overseen by Ron Schuller, who joined the company in November 2014 as the Chief Marketing Officer.

© 2015 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.