H.B. Fuller completes acquisition of Forbo Group's global industrial adhesives group, Forbo Bonding Systems; move to provide growth opportunities for H.B. Fuller in key regions, markets such as packaging, company says
Alison Gallant
ST. PAUL, Minnesota
,
March 5, 2012
(press release)
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H.B. Fuller Company (NYSE: FUL - News), announced today that it 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 percent (by revenue) of the Forbo Bonding Systems division of Forbo Group. It generated approximately $580 million in revenue for the fiscal year ended Dec. 31, 2011, 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 $35 million.
"The acquisition strengthens H.B. Fuller and positions us to capitalize 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," said Jim Owens, H.B. Fuller president and chief executive officer.
About H.B. Fuller Company:
For 125 years, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. Recognized for unmatched technical support and innovation, H.B. Fuller brings knowledge and strength to help its customers find precisely the right formulation for the right performance. With fiscal 2011 net revenue of $1.6 billion, H.B. Fuller serves customers in packaging, hygiene, paper converting, general assembly, woodworking, construction, and consumer businesses. For more information, visit HBFuller.com, HBFullerStrength.com, read our blog or follow GlueTalk on Twitter.
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