Graco Completes Acquisition of Corob
Graco Inc., a leading provider of technology and expertise in managing liquids and coatings for industrial and commercial applications, announced completion of its acquisition of Corob S.p.A.
Graco Inc. announced completion of its previously announced acquisition of Corob S.p.A. ("Corob") for EUR 230 million subject to customary adjustments, plus contingent consideration of up to EUR 30 million.
Corob is among the world leaders in the design and manufacture of high-performance volumetric and gravimetric dispensing, mixing and shaking equipment used in critical colour-matching applications. Corob generated revenue of EUR 110 million in 2023 and employs over 600 people worldwide. The company, headquartered in Italy, has additional manufacturing operations in India and Canada.
Mark Sheahan, President and Chief Executive Officer of Graco, stated, "Completion of this acquisition strengthens our existing position in the growing paints and coatings equipment manufacturing category to benefit both new and existing Graco customers. Corob brings valuable technology and innovation to Graco, and we will leverage the complementary strengths of our two companies to support growth and expand our global manufacturing footprint."
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