Orange City-based Diamond Vogel, a family-owned paint and coatings manufacturing company with $180 million in typical annual revenue, is taking a new tack on one of its business units.

The company says it’s “implementing a strategic transformation in its approach to the architectural coatings market” and divesting its company-owned retail stores that primarily serve painting contractors, homeowners and maintenance professionals.

Diamond Vogel’s northwest Iowa headquarters reportedly employs roughly 600 people.

Spectrum Paint plans to acquire Diamond Vogel’s architectural paint business across 11 locations and will assume operations at eight stores in Central Iowa. Spectrum plans to continue operations at these sites and retain most of the employees.

“In today’s evolving retail landscape, success demands continuous innovation and focus,” Jeff Powell, CEO of Diamond Vogel, said in a press release. “Our strength lies in paint manufacturing, and we recognized the need to reinvest in our core capabilities rather than retail operations. We’re pleased to partner with Spectrum Paint, a company known for delivering exceptional customer experiences. Spectrum will continue to offer our premium architectural paints and coatings to the market.”

Diamond Vogel is refocusing its efforts on serving industrial customers through a new industrial service center model. This initiative is designed to meet the needs of manufacturers nationwide by offering local inventory support, dedicated color matching and timely order fulfillment. Twelve existing Diamond Vogel locations will be upgraded to support this new model. The 99-year-old company said it remains committed to producing high-quality architectural paints, which will continue to be available through its acquisition partners.

“Manufacturing is at the heart of who we are,” Powell said. “This strategic move allows us to return to our roots and reinvest in what we do best — making exceptional coatings.”

The company is in discussions with potential buyers for its remaining architectural paint-focused retail locations.