DuPont had sponsored Gordon for 20 years and Axalta in the buyout assumed the contract that was scheduled to end after 2013. Axalta will be the primary sponsor for 10 races and an associate for the remainder of the season for Gordon, who has won 87 Cup races and four Cup titles.
The announcement Thursday coincided with the launch of the new Axalta brand.
"I look forward to a lot more racing, some more wins and hopefully another championship with them before it's all over," Gordon said in a news release.
"And the newly rebranded Axalta company is still comprised of the same people I've been working with for more than two decades, and I can't imagine my career without them.
“They are truly like family to me, Rick Hendrick and this No. 24 team."
The new Axalta logo will appear on the hood of the No. 24 Chevrolet for the first time this weekend at Pocono Raceway with the familiar "firestorm" paint scheme.
“We have built up so much equity in the No. 24 team over the years and Jeff Gordon is the best spokesperson any company could ask for," said Nigel Budden, Axalta Coating Systems North America Business Director.
“Our customers feel like a part of the No. 24 team after all these years, and the quality of the No. 24 team represents the quality of their businesses and the Axalta automotive paint products they take such pride in using."