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. (GGG)
Last graco inc. earnings: 4/22 04:10 pm
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Source: Business Wire
MINNEAPOLIS--(BUSINESS WIRE)--Graco Inc. (NYSE:GGG) announced today that it has entered into a definitive agreement to acquire Corob S.p.A. (“Corob”) for €230 million, subject to customary adjustments, with up to €30 million in additional contingent consideration. The transaction is expected to close in Graco’s fiscal fourth quarter following the satisfaction of customary closing conditions. Corob had revenue of €110 million in 2023.“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
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