Valspar Pledges $36M To Habitat For Humanity
National nonprofit Habitat for Humanity builds houses. Minneapolis-based Valspar Corp. makes paint. It’s a natural partnership: Valspar has been Habitat’s national paint partner for more than a decade.
On Wednesday Valspar announced a five-year extension of the agreement, pledging to donate $36 million in paint and contributions between 2015 and 2019.
‘”We’ve been Habitat’s national paint partner since 2002. To date we have donated 2.2 million gallons of paint to Habitat,” Kimberly Welch, spokeswoman for Valspar Corp., tells Twin Cities Business. “We’re just extending our agreement with them.”
Welch says that the newly announced pledge calls for Valspar Corp. to donate $34 million worth of paint to Habitat for Humanity. The Valspar Corporation Foundation is donated $2 million in cash to Habitat.
Since 2002, Valspar has already contributed more than $60 million to Habitat for Humanity.
“[For] every Habitat home, we’re providing the paint,” says Welch.
Valspar reported revenue of $4.5 billion and net income of $345.4 million for its fiscal year 2014, which ended October 31, 2014. The company has more than 10,500 employees in 25 countries.