Kelly-Moore Paints

Last updated

Kelly-Moore Paints
Company type Private
Industry Paint and coatings manufacturing
Retail
Founded1946;78 years ago (1946)
Founders
  • William Kelly
  • William Moore
DefunctJanuary 12, 2024;21 days ago (2024-01-12)
FateClosed
Headquarters
Irving, Texas
,
U.S.
Key people
Products
  • AcryPlex
  • DuraPoxy
  • Epic
  • Envy
  • Kel-Bond
  • Kel-Pro
RevenueIncrease2.svgUS$400 million (2022) [1]
Number of employees
1200 (2022 [1] )
Parent Flacks Group
Website kellymoore.com
Kelly-Moore Paints store in Sunnyvale, California Kelly-Moore Paints, Sunnyvale.jpg
Kelly-Moore Paints store in Sunnyvale, California

Kelly-Moore Paints was an American paint manufacturing company. Founded in 1946 by William Kelly and William Moore in San Carlos, California, it moved its headquarters from there to Irving, Texas, in 2023. Its manufacturing plant was located in Hurst, Texas.

Contents

As of October 2022, when it was acquired by investment firm Flacks Group, Kelly-Moore had 157 stores located in California, Texas, Oklahoma, and Nevada. [2] In January 2024, the company announced it was ceasing operations.

History

1946–1952: Founding

Kelly-Moore Paints was founded in 1946 by William Kelly and William Moore, former Glidden employees. [3]

1952–1984: Acquisition by William Moore and expansion

Moore bought out Kelly in 1952, [3] and for the next thirty years he was actively involved in every facet of the business. [4] He played an essential role in the evolution of production methods and the planning and designing of company-owned stores. [4]

In 1974, retail sales made up almost 25 percent of the total revenue. As a result of market shifts, that percentage would increase to 37 percent within a decade. [4] There was a rise in the number of homeowners who wanted to paint their own homes. Kelly-Moore maintained annual growth of 13 percent over the past decade. [4]

In 1984, Kelly-Moore had a revenue of $136 million and a profit of almost $11 million, when Moore announced retirement. [4]

1984–1998: Company under a new management

Joseph P. Cristiano took over as CEO of Kelly-Moore in January 1985, six months after William Moore retired. [4] During those months, he spent shadowing sales representatives to learn the ropes. [4]

In 1994, Kelly-Moore Paints expanded its presence in Alaska and Washington by acquiring Preservative Paint Co. of Seattle. [4] The purchase created a wholly owned subsidiary of Kelly-Moore Paints with two new retail locations in Alaska and fifteen new retail locations in Washington. [4]

In 1995, Kelly-Moore acquired K-M Universal, expanding its presence in the Southwest by adding a factory in Tempe, Arizona, and a number of retail outlets in the state of Arizona and the state of California. [4] A year later, Kelly-Moore expanded its new subsidiary by absorbing another acquisition, the paint division of Island Equipment Co., situated in Guam. [4]

1998–2022: ESOP

In 1998, Moore and his wife set up an ESOP, which provided both a retirement and stock ownership plan for eligible employees. [4]

In 1999, Kelly-Moore partnered with M.A. Bruder & Sons, a Pennsylvania-based company with a business model and customer base comparable to its own, in an effort to strengthen both firms' positions in the marketplace. [4] They were both able to serve national accounts since their regions did not overlap; M.A. Bruder handled projects on the East Coast, while Kelly-Moore handled those on the West Coast. [4] As a result of the collaboration, both businesses were included beside each other in the American Institute of Architects' MasterSpec Finishes directory, which is used by some 5,500 architectural and construction firms. [4]

In 2000, Diamond Vogel Paints and later Dunn-Edwards joined their alliance, which was known as Paints America. [4] In the same year, Kelly-Moore Paints acquired Ponderosa Paint Manufacturing. [4]

In January 2003, Herb R. Giffins replaced Cristiano as the new president and CEO of Kelly-Moore Paints. [4]

The company relocated its manufacturing from the San Francisco Bay Area to Hurst, Texas, in 2017. [5] In April 2022, it received the governor's Texas Environmental Excellence Award in the Pollution Prevention category. [6] [7]

2022–2024: Acquisition by Flacks Group and closure

In September 2022, Kelly Moore Paints was acquired by Flacks Group, a Miami, Florida-based investment firm that holds more than $2 billion of total assets. Flacks Group bought the paint company's retailing, distributing and manufacturing units. [1] [2] After the acquisition, Charles Gassenheimer, managing partner of the Flacks Group, became the CEO of Kelly-Moore Paints. [8] Company headquarters moved to Irving, Texas, in 2023. [5]

The company was under financial pressure because of lawsuits related to its use of asbestos in cement and texturing materials until 1981. In January 2024, it ceased manufacturing and furloughed 700 employees. [9] On January 12, 2024, it announced it was ceasing operations except for fulfilment of existing orders. [10] [11]

Management

Related Research Articles

<span class="mw-page-title-main">Imperial Chemical Industries</span> Former British chemicals, paints and pharmaceuticals company

Imperial Chemical Industries (ICI) was a British chemical company. It was, for much of its history, the largest manufacturer in Britain. It was formed by the merger of four leading British chemical companies in 1926. Its headquarters were at Millbank in London. ICI was a constituent of the FT 30 and later the FTSE 100 indices.

<span class="mw-page-title-main">Whataburger</span> American fast food restaurant chain

Whataburger is an American regional fast food restaurant chain, headquartered and based in San Antonio, Texas, that specializes in hamburgers. Founded by Harmon Dobson and Paul Burton, it opened its first restaurant in Corpus Christi, Texas in 1950. Family-owned by the Dobsons until 2019, the chain is now managed by a private equity firm; the Dobson family still holds a small stake.

<span class="mw-page-title-main">Celanese</span> American chemical company

Celanese Corporation, formerly known as Hoechst Celanese, is an American technology and specialty materials company headquartered in Irving, Texas. A Fortune 500 corporation, the company is the world’s leading producer of acetic acid, producing about 1.95 million tonnes per year, representing approximately 25% of global production. Celanese is also the world's largest producer of vinyl acetate monomer (VAM).

<span class="mw-page-title-main">AkzoNobel</span> Dutch multinational company which creates paints and performance coating

Akzo Nobel N.V., stylized as AkzoNobel, is a Dutch multinational company which creates paints and performance coatings for both industry and consumers worldwide. Headquartered in Amsterdam, the company has activities in more than 150 countries. AkzoNobel is the world's third-largest paint manufacturer by revenue after Sherwin-Williams and PPG Industries.

The True Value Company is an American wholesaler with over 4,500 independent retail locations worldwide.

<span class="mw-page-title-main">PPG Industries</span> Global supplier of glass and chemical products

PPG Industries, Inc. is an American Fortune 500 company and global supplier of paints, coatings, and specialty materials. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries around the globe. By revenue it is the largest coatings company in the world followed by AkzoNobel. It is headquartered in PPG Place, an office and retail complex in downtown Pittsburgh, and is known for its glass facade designed by Postmodern architect Philip Johnson.

<span class="mw-page-title-main">Anti-fouling paint</span> Specialized paint for ship hulls

Anti-fouling paint is a specialized category of coatings applied as the outer (outboard) layer to the hull of a ship or boat, to slow the growth of and facilitate detachment of subaquatic organisms that attach to the hull and can affect a vessel's performance and durability. It falls into a category of commercially available underwater hull paints, also known as bottom paints.

<span class="mw-page-title-main">The Michaels Companies</span> Holding company based in Irving, Texas

The Michaels Companies is an American retail holding company, headquartered in Irving, Texas. It was formed as a parent company of Michaels in 2014.As of 2021, The Michaels Companies operates its flagship brand, Michaels and Artistree, a manufacturer of custom and specialty framing merchandise. There are over 1,252 arts and crafts stores located in the United States and Canada.

<span class="mw-page-title-main">Sherwin-Williams</span> American paint and coating company

Sherwin-Williams Company is an American company based in Cleveland, Ohio. It is primarily engaged in the manufacture, distribution, and sale of paints, coatings, floorcoverings, and related products to professional, industrial, commercial, and retail customers, primarily in North and South America and Europe. At the end of 2020, Sherwin-Willams had operations in over 120 countries.

<span class="mw-page-title-main">Dulux</span> Internationally available brand of architectural paint

Dulux is an internationally available brand of architectural paint originated from the United Kingdom. The brand name Dulux has been used by both Imperial Chemical Industries (ICI) and DuPont since 1931 and was one of the first alkyd-based paints. It is produced by AkzoNobel although the North American market is now served by PPG Industries.

<span class="mw-page-title-main">Haskell (company)</span>

Haskell is an architecture, engineering, construction and consulting firm headquartered in Jacksonville, Florida. It was founded by Preston Haskell in 1965. James O'Leary succeeded Steve Halverson as CEO in August, 2018.

<span class="mw-page-title-main">Benjamin Moore & Co.</span> American paint manufacturer

Benjamin Moore & Co., also known as Benjamin Moore, is an American manufacturer of commercial paints, stains, and other architectural coatings. The company was founded in 1883 in Brooklyn, N.Y. and is currently headquartered in Montvale, N.J. Benjamin Moore has major manufacturing and distribution operations throughout the United States and Canada, with global sales in more than 75 other countries. Benjamin Moore products sold through independently owned retailers, including specialized paint-and-decorating centers, hardware stores, and retailers’ cooperatives such as Ace Hardware, Do it Best, and True Value.

Paint is a recyclable item. Latex paint is collected at collection facilities in many countries and shipped to paint-recycling facilities.

Comex Group is the fourth largest paint manufacturer and distributor of paints and waterproofing products in North America, with 3,300 locations.

<span class="mw-page-title-main">International Paint</span>

International Paint, abbreviated as International, is a brand of the Marine & Protective Coatings business unit of AkzoNobel.

<span class="mw-page-title-main">Axalta</span> Coatings company headquartered in Philadelphia

Axalta Coating Systems Ltd., also known as simply Axalta, is an American company specializing in coatings in a wide variety of industrial applications, materials and sectors, including automotive paints. The company is based in Philadelphia, Pennsylvania, and incorporated in Bermuda. Axalta develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. The firm does business in 130 countries, has nearly 13,000 employees, and has more than 100,000 customers.

Asian Paints Ltd is an Indian multinational paint company, headquartered in Mumbai, Maharashtra, India. The company is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home décor, bath fittings and providing related services.

<span class="mw-page-title-main">JAT Holdings</span> Sri Lankan paints manufacturer

JAT Holdings PLC is a Sri Lanka based multinational paint company headquartered in Thalawathugoda, Sri Lanka. The company is engaged in the business of manufacturing, selling and distribution of paints, wood coatings and products related to the retail and industrial sectors. As of 2016, it has the largest market share with 75% in the Sri Lankan paint industry.

ResenePaints LTD is a New Zealand paint and building materials manufacturer and retailer.

<span class="mw-page-title-main">Pleuger</span> German manufacturing company

Pleuger Industries is a German manufacturer of submersible pumps, thrusters, and plunger pumps. It is based in Hamburg, Germany. The word "Pleuger" is sometimes considered as synonymous for water-filled motors with multi-stage pumps. It is also considered as the pioneer of submersible turbine pump motor.

References

  1. 1 2 3 "Bay Area paint company with 1,200 workers is bought by investment firm". October 3, 2022.
  2. 1 2 Lopez, Sierra (October 1, 2022). "San Carlos' Kelly-Moore Paints change ownership". San Mateo Daily Journal.
  3. 1 2 Wildermuth, John (November 25, 2004). "William Moore -- paint store founder". San Francisco Chronicle (obituary).
  4. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 "Kelly-Moore Paint Company history".
  5. 1 2 McLean, Tessa (April 23, 2023). "Paint retailer Kelly Moore moving headquarters from Bay Area to Texas" . Retrieved January 13, 2024.
  6. ↑ "TCEQ announces Texas Environmental Excellence Award winners". Texas Commission on Environmental Quality.
  7. ↑ "Kelly-Moore Paints Wins Environmental Excellence Award". Coatings World. May 10, 2022.
  8. 1 2 "Kelly-Moore Announces Leadership Changes". Business Wire. October 10, 2022.
  9. ↑ "Paint company halts DFW factory operations, furloughs 700". WFAA. January 10, 2024 [January 9, 2024].
  10. ↑ Avalos, George (January 12, 2024). "Kelly-Moore Paints halts operations, closes all stores". Mercury News.
  11. ↑ Mejia-Hilario, Irving (January 12, 2024). "Paint retailer Kelly-Moore is going out of business days after laying off 700 workers". Dallas News.
  12. ↑ Somerville, Heather (April 12, 2013). "Mercury News interview: Steve DeVoe, president and CEO, Kelly-Moore Paint". The Mercury News . Retrieved January 30, 2019.

Further reading

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.