That sounds great. Just want to mention that loam paint is a type of non-toxic, natural paint. If you want to reuse buckets that held other paints or materials, I think you have to investigate if the original contents were toxic. If so, don't use those buckets for feed.
They would make excellent buckets for holding tools, etc... I have a few old 5-gallon (toxic) paint buckets that I use to tote my tools and/or use as small garbage cans for the garage.

That's a great deal. The bucket lids alone in my town are anywhere from $2 to $3 each. I would certainly be buying up those donut shop food grade buckets with lids. Did you know someone at the shop or did the shop just have them for sale to anyone?
Just wanted to mention that early on, I used big plastic and/or metal garbage cans to store my feed. They work fine, but I only have 10 chickens, so it took a long time to get to the bottom of a large garbage can. You still want to rotate your feed, so you just cannot dump new feed on top of the older feed in the garbage can.
So, I had to have 2 big garbage cans in the garage to hold my feed. That took a lot of room, and when full, I was not moving those garbage cans full of feed anywhere. I later got smarter and put a dolly underneath the garbage cans. That made moving them easy, but they still took up a lot of room in my garage, full or empty.
Here is the
Harbor Freight dollies that I purchased, on sale, for less than $10.00 each...
View attachment 4021779
Anyways, the 5-gallon buckets work so much better for me for my long term storage of chicken feed. The buckets, when full, only weight 25# and are easy to carry with the handle. When empty, I take off the lids and can stack them up and out of the way in a corner of the garage. They don't take up much room at all.
The bucket lids are airtight, so they keep the feed fresher, longer, as compared to the garbage cans I formerly used. Because the 5-gallon buckets are smaller, you can rotate the feed faster in one bucket while the other bucket still is held airtight with the lid.
Another big advantage to using 5-gallon buckets is that I have Layer Crumble in some buckets, Layer Pellets in others, Chicken scratch in a few, Cracked Corn in others, etc... If I had to have a larger garbage can for each type of feed I have, I would not have enough room in my garage to park my car. The buckets just stack up one on top of another and take little room.