United States. Graco, a manufacturer of coatings equipment, announced that it has signed a definitive agreement to acquire Corob for €230 million, with up to €30 million in additional contingent consideration.
Both parties expect the transaction to close in Graco's fiscal fourth quarter, once customary closing conditions are met. Corob had revenues of €110 million in 2023.
"The addition of Corob to our portfolio builds on our strong global position in the growing category of paint and coating machinery manufacturing within our contractor segment," said Marco Sheahan, Graco president and chief executive officer.
"This acquisition drives our key strategies of global growth and expansion into new and adjacent markets. Like Graco, Corob has a proven track record of achieving steady 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 design and manufacturing company for high-performance volumetric and gravimetric dosing, mixing and agitation equipment used in mission-critical dyeing applications.
