Graco Finalizes Purchase of Land in Dayton, Minnesota

Rhea-AI Summary

Graco Inc. (NYSE:GGG) has acquired approximately 100 acres of undeveloped land in Dayton, Minnesota, part of the French Lake Industrial Center. This acquisition aims to support Graco's growth by facilitating the relocation of two business divisions from Minneapolis. A 500,000-square-foot facility is planned for development along West French Lake Road, with completion targeted for late 2022. Graco, a leader in fluid handling technology, operates globally and is committed to using this expansion to enhance its design, manufacturing, and distribution capabilities.

Positive

• Acquisition of 100 acres for expansion supporting growth.
• Planned development of a 500,000-square-foot facility.

Negative

• None.

Graco Inc. (NYSE:GGG), a leading manufacturer of fluid handling equipment, announces it has purchased approximately 100 acres of undeveloped land in Dayton, Minnesota. The parcels, which are part of the French Lake Industrial Center, are flanked by West French Lake Road to the north and east, and Brockton Lane North to the west.

Graco, headquartered in Minneapolis, also operates facilities in Anoka and Rogers, Minnesota as well as around the world. The Dayton campus is a couple of miles from each of Graco’s two existing buildings in Rogers. The land will support Graco’s sustained growth by allowing two of its three business divisions currently operating in Minneapolis to relocate.

“We’re thankful to be in a position to invest in this expansion and look forward to offering our divisions the space they need to keep designing, manufacturing, marketing and distributing our leading technology to customers worldwide,” said Angela Wordell, Graco’s Executive Vice President of Operations and President of its Worldwide Oil and Natural Gas Division. “Thank you to the City of Dayton, Greater MSP and Xcel Energy for their assistance in making this project a reality.”

Graco intends to begin development of a 500,000-square-foot facility along West French Lake Road to be completed by late 2022 as the first phase. Graco is currently collaborating on this project with general contractor McGough, architectural services firm HGA and project management services by Tegra.

ABOUT GRACO

Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210204005116/en/

FAQ

What recent land acquisition has Graco announced?

Graco has acquired approximately 100 acres of land in Dayton, Minnesota, to support its expansion.

What is the purpose of Graco's new facility in Dayton?

The new facility will enable the relocation of two business divisions from Minneapolis, enhancing operational capabilities.

When is Graco's new facility expected to be completed?

The development of the new facility is targeted for completion by late 2022.

Where is Graco's new land located?

The land is located in the French Lake Industrial Center in Dayton, Minnesota.