Graco Inc. Signs Definitive Agreement to Acquire Corob S.p.A., a Global Manufacturer of High-tech Dispensing and Mixing Solutions for Paints and Coatings
Graco Inc. (NYSE:GGG) has announced a definitive agreement to acquire Corob S.p.A. for €230 million, with potential additional contingent consideration of up to €30 million. The acquisition is expected to close in Graco's fiscal fourth quarter, subject to customary conditions. Corob, a global leader in high-tech dispensing and mixing solutions for paints and coatings, reported revenue of €110 million in 2023.
Graco's President and CEO, Mark Sheahan, stated that the acquisition strengthens their global position in the growing paint and coating machinery manufacturing category within their Contractor segment. The move aligns with Graco's strategies of global growth and expansion into new and adjacent markets. Corob employs over 600 people worldwide, with headquarters in Italy and additional manufacturing operations in India and Canada.
Graco Inc. (NYSE:GGG) ha annunciato un accordo definitivo per acquisire Corob S.p.A. per 230 milioni di euro, con un'ulteriore considerazione contingente potenziale fino a 30 milioni di euro. Si prevede che l'acquisizione si chiuda nel quarto trimestre fiscale di Graco, soggetta a condizioni consuete. Corob, leader globale nelle soluzioni di erogazione e miscelazione ad alta tecnologia per vernici e rivestimenti, ha riportato un fatturato di 110 milioni di euro nel 2023.
Il Presidente e CEO di Graco, Mark Sheahan, ha dichiarato che l'acquisizione rafforza la loro posizione globale nella crescente categoria della produzione di macchinari per vernici e rivestimenti all'interno del loro segmento Contractor. Questa mossa è in linea con le strategie di crescita globale e espansione di Graco in nuovi mercati e mercati adiacenti. Corob impiega oltre 600 persone in tutto il mondo, con sede in Italia e ulteriori operazioni di produzione in India e Canada.
Graco Inc. (NYSE:GGG) ha anunciado un acuerdo definitivo para adquirir Corob S.p.A. por 230 millones de euros, con una posible consideración adicional contingente de hasta 30 millones de euros. Se espera que la adquisición se cierre en el cuarto trimestre fiscal de Graco, sujeta a condiciones habituales. Corob, un líder global en soluciones de dispensación y mezcla de alta tecnología para pinturas y recubrimientos, reportó ingresos de 110 millones de euros en 2023.
El presidente y CEO de Graco, Mark Sheahan, declaró que la adquisición fortalece su posición global en la creciente categoría de fabricación de maquinaria para pinturas y recubrimientos dentro de su segmento de Contratistas. Este movimiento se alinea con las estrategias de Graco de crecimiento global y expansión hacia nuevos mercados y mercados adyacentes. Corob emplea a más de 600 personas en todo el mundo, con sede en Italia y operaciones de fabricación adicionales en India y Canadá.
Graco Inc. (NYSE:GGG)는 Corob S.p.A. 인수에 대한 최종 계약을 체결했다고 발표했습니다. 계약 액수는 2억 3천만 유로이며, 최대 3천만 유로의 추가적인 조건부 대금이 포함될 수 있습니다. 인수는 Graco의 회계 연도 4분기에 마무리될 것으로 예상되며, 일반적인 조건에 따릅니다. Corob은 페인트 및 코팅을 위한 고급 dispensing 및 mixing 솔루션의 글로벌 리더로, 2023년에는 1억 1천만 유로의 매출을 보고했습니다.
Graco의 사장兼 CEO인 Mark Sheahan은 이번 인수로 인해 계약자 부문 내 페인트 및 코팅 기계 제조 분야에서 글로벌 입장이 강화된다고 밝혔습니다. 이는 Graco의 글로벌 성장 및 새로운 인접 시장으로의 확장 전략과 일치합니다. Corob은 이탈리아에 본사를 두고 있으며 인도와 캐나다에 추가 제조 시설을 두고 600명 이상의 직원을 고용하고 있습니다.
Graco Inc. (NYSE:GGG) a annoncé un accord définitif pour acquérir Corob S.p.A. pour 230 millions d'euros, avec une éventuelle contrepartie conditionnelle supplémentaire de jusqu'à 30 millions d'euros. L'acquisition devrait se clôturer au quatrième trimestre fiscal de Graco, sous réserve des conditions habituelles. Corob, un leader mondial dans les solutions de distribution et de mélange de haute technologie pour les peintures et revêtements, a déclaré un chiffre d'affaires de 110 millions d'euros en 2023.
Le président et PDG de Graco, Mark Sheahan, a déclaré que cette acquisition renforce leur position globale dans la catégorie en croissance de fabrication de machines pour peintures et revêtements au sein de leur segment Contracteur. Cette démarche s'inscrit dans les stratégies de croissance mondiale et d'expansion vers de nouveaux marchés et marchés adjacents de Graco. Corob emploie plus de 600 personnes dans le monde, avec son siège en Italie et d'autres opérations de fabrication en Inde et au Canada.
Graco Inc. (NYSE:GGG) hat eine endgültige Vereinbarung zur Übernahme von Corob S.p.A. für 230 Millionen Euro bekannt gegeben, mit einer möglichen zusätzlichen Bedingung von bis zu 30 Millionen Euro. Es wird erwartet, dass die Übernahme im vierten Quartal des Geschäftsjahres von Graco abgeschlossen wird, vorbehaltlich üblicher Bedingungen. Corob, ein globaler Marktführer in hochmodernen Dosier- und Mischlösungen für Farben und Beschichtungen, erzielte im Jahr 2023 Umsätze von 110 Millionen Euro.
Der Präsident und CEO von Graco, Mark Sheahan, erklärte, dass die Übernahme ihre globale Position in der wachstumsstarken Kategorie der Maschinenbau für Farben und Beschichtungen innerhalb ihres Bereichs Contractor stärkt. Dieser Schritt steht im Einklang mit Gracos Strategien für globales Wachstum und Expansion in neue und angrenzende Märkte. Corob beschäftigt weltweit über 600 Mitarbeiter, mit Hauptsitz in Italien sowie zusätzlichen Produktionsstätten in Indien und Kanada.
- Acquisition expands Graco's presence in the growing paint and coating machinery manufacturing category
- Corob reported €110 million in revenue for 2023
- Acquisition aligns with Graco's global growth and market expansion strategies
- Corob has a strong global presence with operations in Italy, India, and Canada
- Significant initial investment of €230 million with potential additional €30 million in contingent consideration
- Integration challenges may arise from merging two global companies
Insights
The acquisition of Corob S.p.A. by Graco Inc. for
This strategic acquisition aligns with Graco's global growth strategy and expansion into adjacent markets. It's particularly noteworthy that Corob's operations span across Italy, India and Canada, potentially providing Graco with enhanced global manufacturing capabilities and market access.
The deal structure, including up to
This acquisition positions Graco strategically in the growing paint and coating machinery manufacturing sector. Corob's expertise in high-tech dispensing and mixing solutions complements Graco's existing portfolio, potentially leading to increased market share and technological advantages.
The global paint and coatings market is projected to grow significantly, driven by construction activities and industrial development. By acquiring Corob, Graco is poised to capitalize on this trend, especially in emerging markets where Corob has a presence.
Investors should consider the potential for cross-selling opportunities and the expansion of Graco's product offerings. The addition of Corob's 600+ employees also brings valuable human capital and expertise to Graco, which could drive innovation and market expansion. Keep an eye on how Graco leverages Corob's technology and global footprint to enhance its competitive position in the industry.
“The addition of Corob to our portfolio builds on our strong global position in the growing paint and coating machinery manufacturing category within our Contractor segment,” said Mark Sheahan, Graco's President and CEO. “This acquisition advances our key strategies of global growth and expanding into new and adjacent markets. Like Graco, Corob has a demonstrated track record of achieving consistent growth in markets around the world through innovation as well as quality and service, and we look forward to collaborating for continued success.”
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 has more than 600 employees worldwide and is headquartered in
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 statement about the expected closing date of the acquisition is a forward-looking statement. The expected closing and closing date of the acquisition could differ due to any event, change or other circumstance that prevents the parties from satisfying the closing conditions in a timely fashion or at all.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240926106772/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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