CLEVELAND – Sherwin-Williams is buying the privately held Mexican paint company Consorcio Comex in an all-cash deal valued at about $2.34 billion.

Consorcio Comex, S.A. de C.V., sells paints and coatings under several brands in the United States and Canada, and it sells architectural and industrial coatings in Mexico. It has company-operated stores and also works with independent paint dealers.

The company is based in Mexico City and had a total of $1.4 billion in sales last year. It employs 7,200 people and runs manufacturing sites in Mexico, the United States and Canada.