Graco Inc. Has Completed Its Previously-Announced Acquisition of Corob S.p.A., a Global Manufacturer of Hi-tech Dispensing and Mixing Solutions for Paints and Coatings
Graco Inc. (NYSE:GGG) has completed its acquisition of Corob S.p.A. for €230 million, with potential additional contingent consideration of up to €30 million. Corob, headquartered in Italy with operations in India and Canada, is a global leader in manufacturing dispensing and mixing equipment for tinting applications. The company generated revenue of €110 million in 2023 and employs over 600 people worldwide. The acquisition aims to strengthen Graco's position in the paint and coating equipment manufacturing sector, leveraging both companies' technological capabilities and expanding Graco's global manufacturing presence.
Graco Inc. (NYSE:GGG) ha completato l'acquisizione di Corob S.p.A. per 230 milioni di euro, con un potenziale corrispettivo contingente aggiuntivo di fino a 30 milioni di euro. Corob, con sede in Italia e operazioni in India e Canada, è un leader globale nella produzione di attrezzature per dosaggio e miscelazione per applicazioni di tintura. L'azienda ha generato ricavi di 110 milioni di euro nel 2023 e impiega oltre 600 persone in tutto il mondo. L'acquisizione mira a rafforzare la posizione di Graco nel settore della produzione di attrezzature per vernici e rivestimenti, sfruttando le capacità tecnologiche di entrambe le aziende e ampliando la presenza globale di produzione di Graco.
Graco Inc. (NYSE:GGG) ha completado su adquisición de Corob S.p.A. por 230 millones de euros, con una posible contraprestación contingente adicional de hasta 30 millones de euros. Corob, con sede en Italia y operaciones en India y Canadá, es un líder global en la fabricación de equipos de dosificación y mezcla para aplicaciones de tintado. La empresa generó ingresos de 110 millones de euros en 2023 y emplea a más de 600 personas en todo el mundo. La adquisición tiene como objetivo fortalecer la posición de Graco en el sector de fabricación de equipos de pintura y recubrimiento, aprovechando las capacidades tecnológicas de ambas empresas y ampliando la presencia de fabricación global de Graco.
Graco Inc. (NYSE:GGG)는 Corob S.p.A.를 2억 3천만 유로에 인수했으며, 최대 3천만 유로의 추가 지급 기준이 있을 수 있습니다. 이탈리아에 본사를 두고 인도와 캐나다에서 사업을 운영하는 Corob는 색상 작업을 위한 주입 및 혼합 장비 제조의 글로벌 리더입니다. 이 회사는 2023년에 1억 1천만 유로의 수익을 올렸으며, 전 세계에 600명 이상의 직원이 있습니다. 이번 인수는 두 회사의 기술적 역량을 활용하여 Graco의 페인트 및 코팅 장비 제조 분야에서의 입지를 강화하고 Graco의 글로벌 제조 존재감을 확대하는 것을 목표로 하고 있습니다.
Graco Inc. (NYSE:GGG) a finalisé son acquisition de Corob S.p.A. pour 230 millions d'euros, avec une contrepartie conditionnelle supplémentaire pouvant atteindre 30 millions d'euros. Corob, dont le siège est en Italie et qui opère en Inde et au Canada, est un leader mondial dans la fabrication d'équipements de dosage et de mélange pour des applications de teinte. L'entreprise a généré un chiffre d'affaires de 110 millions d'euros en 2023 et emploie plus de 600 personnes dans le monde entier. Cette acquisition vise à renforcer la position de Graco dans le secteur de la fabrication d'équipements de peinture et de revêtement, en capitalisant sur les capacités technologiques des deux entreprises et en élargissant la présence manufacturière mondiale de Graco.
Graco Inc. (NYSE:GGG) hat die Übernahme von Corob S.p.A. für 230 Millionen Euro abgeschlossen, mit einer möglichen zusätzlichen Bedingung von bis zu 30 Millionen Euro. Corob, mit Hauptsitz in Italien und Niederlassungen in Indien und Kanada, ist ein weltweit führendes Unternehmen in der Herstellung von Abgabesystemen und Mischgeräten für Beschichtungsanwendungen. Das Unternehmen erzielte 2023 einen Umsatz von 110 Millionen Euro und beschäftigt weltweit über 600 Mitarbeiter. Die Übernahme zielt darauf ab, die Position von Graco im Bereich der Herstellung von Lack- und Beschichtungsgeräten zu stärken, indem die technologischen Fähigkeiten beider Unternehmen genutzt und Gracos globale Produktionspräsenz erweitert werden.
- Acquisition expands Graco's market presence in paint and coating equipment sector
- Adds €110 million in annual revenue to Graco's business
- Gains access to Corob's technological capabilities and innovation
- Expands manufacturing footprint with facilities in Italy, India, and Canada
- Adds over 600 skilled employees to workforce
- Significant cash outlay of €230 million with potential additional €30 million payment
- Integration costs and risks associated with merging international operations
Insights
The
- Geographic expansion with new manufacturing facilities in India and Canada
- Technology acquisition in high-precision dispensing systems
- Revenue diversification in the growing tinting applications segment
- Addition of 600+ skilled employees to strengthen global operations
The acquisition price appears reasonable given Corob's market leadership and technological capabilities. Integration synergies and cross-selling opportunities could drive meaningful revenue growth and margin expansion in the coming years.
This acquisition strategically positions Graco in the rapidly evolving paint tinting equipment market. The global paint dispensing market is experiencing robust growth driven by increasing automation in paint retail, customization demands and efficiency requirements. Corob's specialized expertise in volumetric and gravimetric dispensing technology complements Graco's existing portfolio and opens new market opportunities. The deal provides immediate access to Corob's established customer base and distribution network, particularly in Europe and emerging markets. The combined entity will benefit from increased scale, enhanced R&D capabilities and improved competitive positioning against major players in the automated dispensing equipment sector.
Corob is a global leader in the design and manufacturing of high-performance volumetric and gravimetric dispense, mixing, and shaking equipment used in mission-critical tinting applications. Corob had revenue of
“The completion of this acquisition will bolster our existing presence in the growing paint and coating equipment manufacturing category to benefit both new and existing Graco customers,” said Mark Sheahan, President & CEO of Graco. “Corob brings valuable technology and innovation to Graco, and we will leverage the complementary strengths of our two companies to drive growth and expand our global manufacturing footprint.”
ABOUT GRACO
Graco Inc. supplies technology and expertise for the management of fluids and coatings 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,
Cautionary Statement Regarding Forward-Looking Statements
The Company desires to take advantage of the “safe harbor” provisions regarding forward-looking statements of the Private Securities Litigation Reform Act of 1995 and is filing this Cautionary Statement in order to do so. The Company’s statements about the expected impacts of the closing of the acquisition, including with respect to existing presence, benefits to customers, growth and expansion are forward-looking statements. The expected impacts of the closing of the acquisition could differ due to any event, change or other circumstance that prevents the parties from achieving these results in a timely fashion or at all.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241104426163/en/
Investors: David M. Lowe, 612-623-6456
Media: Meredith Sobieck, 763-353-1498
Meredith_A_Sobieck@graco.com
Source: Graco Inc.
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