Graco Inc. Completes Acquisition of Corob SpA

Graco Inc. has successfully completed the acquisition of Corob SpA, a leading global manufacturer of high-tech dispensing and mixing solutions for paints and coatings. The acquisition totals €230 million with the possibility of an additional €30 million in contingent consideration.

Corob is a leading supplier of high-performance volumetric and gravimetric dispensing, mixing and shaking equipment. The company's products are used in mission-critical coloring applications and are known for their precision and reliability. Corob is headquartered in Italy with additional manufacturing operations in India and Canada. The company generated revenues of €110 million in 2023 and has more than 600 employees worldwide.

Graco's acquisition of Corob is part of the company's strategy to expand its presence in the paint and coatings equipment manufacturing category. The company plans to leverage Corob's technology and expertise to drive growth and enhance its existing product offerings. Graco also sees the acquisition as an opportunity to expand its global manufacturing footprint.

"The completion of this acquisition will enhance our existing position in the growing paint and coatings equipment manufacturing sector, benefiting both new and existing Graco customers," said Mark Sheahan, Graco President and CEO. "Corob brings valuable technology and innovation to Graco, and we will leverage the complementary strengths of both companies to drive growth and expand our global manufacturing footprint."

Graco is a leading supplier of fluid and coatings management technology and expertise. The company designs, manufactures and markets a wide variety of systems and equipment for industrial and commercial applications. Headquartered in Minneapolis, Graco serves customers worldwide.

The acquisition of Corob is expected to be immediately accretive to Graco's earnings. The company will provide additional details on the financial impact of the acquisition in its upcoming earnings release.