H.B. Fuller Company announced 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 of the Forbo Bonding Systems division of Forbo Group. It generated approximately $580 million in revenue for the fiscal year ended Dec. 31, 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.