Eagle Paint and Wallpaper Inc has acquired financially troubled rival Norton Paint. The value of the transaction was not disclosed, according to North Jersey.

Former Norton Paint co-owner Carl Shaw shared the reason for the sale: "It just became too difficult to navigate. Retail is extremely wearing on you, with 60- and 70-hour weeks. Between that and the constant struggles with the economy, it was time for me to turn it over to someone who can grow the business."

Under the terms of the acquisition deal, Norton Paint will maintain its name and will be headed by former Benjamin Moore salesman Frank McKoy, the report stated.

The deal marks the first time that Eagle has made an acquisition. Joe Pisarri Sr of Eagle Paint said merging the two establishments has helped both gain traction over their rivals in the competitive paint industry, the report explained.

Eagle Paint specializes in Benjamin Moore paints, Farrow & Ball, wall papers, and home design consulting services, North Jersey reported.