ST. PAUL, Minn. (Dec. 23, 2011)—H.B. Fuller Co. has agreed to purchase the global industrial adhesives business of Forbo Group for about $394 million.
The final agreement is not expected to be signed until the first quarter of 2012.
The acquisition will enhance H.B. Fuller's position as a global leader in the adhesives industry, according to Jim Owens, H.B. Fuller president and CEO. The two companies have been considered likely acquisition partners for a number of years by industry insiders, and substantive discussions on this deal began earlier this year, Owens said.
“This is a natural strategic fit because there is a lot of overlap in what our companies do,” Owens said. “We feel the purchase of this business of Forbo Group would enhance the amount of expertise and type of technologies we offer. We feel it will enhance our profitability and growth.”