Crown Paints has been put up for sale as part of an exploration of "strategic options' for the company.
Endless LLP, which backed the £70m MBO of the company from Akzo Nobel in 2008, has appointed Deloitte in Manchester to review the options. The firm is expected to be sold for more than £100m.

A spokesperson for Endless confirmed the appointment, saying "Consistent with our investment strategy, we are continuously exploring strategic options for Crown."

The company reported last week that it was on course to double profit on the 2010 financial year, despite seeing no significant upturn in sales.

Speaking at the time, group chief exec Brian Davidson said: "we have a clear strategy for growth and are confident that Crown Paints will continue to thrive despite the economic backdrop."