Graco Inc. has successfully completed its acquisition of Corob S.p.A., a global manufacturer of high-tech dispensing and mixing solutions for paints and coatings. The acquisition was completed for a total of €230 million with the potential for an additional €30 million in contingent consideration.

Corob is a leading provider of high-performance volumetric and gravimetric dispense, mixing and shaking equipment. The company’s products are used in mission-critical tinting applications and are known for their precision and reliability. Corob is headquartered in Italy and has additional manufacturing operations in India and Canada. The company generated €110 million in revenue in 2023 and employs over 600 people worldwide.

Graco’s acquisition of Corob is part of the company’s strategy to expand its presence in the paint and coating 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 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.”

Graco is a leading supplier of technology and expertise for the management of fluids and coatings. The company designs, manufactures and markets a wide range of systems and equipment for industrial and commercial applications. Graco is headquartered in Minneapolis and serves customers around the world.

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.