Adds a global manufacturer of dispensing and mixing solutions for paints and coatings.

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 4, 2024-- Graco Inc. (NYSE:GGG) announced today that it has completed its previously-announced acquisition of Corob S.p.A. (¡°Corob¡±) for ¢ã230 million, subject to customary adjustments, with up to ¢ã30 million in additional contingent consideration.

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 had revenue of ¢ã110 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,¡± said Mark Sheahan, President & CEO of Graco. ¡°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.¡±