HB Fuller Company has completed the acquisition of the global industrial adhesives business of Forbo Group. The company entered into an agreement to purchase this business in December 2011.
The business acquired represents about 80% (by revenue) of the Forbo Bonding Systems division of Forbo Group. It operates 17 manufacturing facilities in 10 countries, and employs more than 1,100 people globally. EBITDA for the business for the 2011 fiscal year was approximately $35m.
Jim Owens, HB Fuller president and chief executive officer, said: "The acquisition strengthens HB Fuller and positions us to capitalise on growth opportunities in key geographies and markets, such as packaging and durable assembly. We will leverage our combined assets – people, products, processes, systems and knowledge – to offer customers a superior choice in adhesives."
Source: HB Fuller
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