This acquisition will boost Graco’s presence in the growing paints and coatings international market.
Graco has recently announced the completion of its previously-announced acquisition of Corob S.p.A. for €230 million, subject to customary adjustments, with up to €30 million in additional contingent consideration.
Corob designs and manufactures high-performance volumetric and gravimetric dispense, mixing, and shaking equipment used in mission-critical tinting applications. Corob had revenue of €110 million in 2023, has more than 600 employees worldwide and is headquartered in Italy with additional manufacturing operations in India and Canada.
“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. 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,” has stated Mark Sheahan, President & CEO of Graco.
About GRACO
Graco 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.