ST. PAUL, Minn.—H.B. Fuller Co. has signed an agreement to purchase Continental Products Ltd., a provider of industrial adhesives in East and Central Africa based in Nairobi, Kenya.
H.B. Fuller said the business will generate about $2.81 million in revenue for fiscal 2014 and will be included in H.B. Fuller's Europe, India, Middle East and Africa operating segment.
“With this acquisition, we will take a significant step forward in our plan to grow in Africa,” Steve Kenny, H.B. Fuller's senior vice president, EIMEA, said in a statement. “H.B. Fuller has a strategic focus on growth in emerging markets, and the Continental business will enable us to deliver specialty adhesives products to key customers in the East and Central African regions.”
Continental was founded in 1996 and develops adhesive solutions for a variety of industries—including paper converting, printing and packaging, labeling, laminating, bookbinding, automotive assembly, footwear and construction. H.B. Fuller said the addition of this business will enable it to capitalize on access to local infrastructure in Kenya.
H.B. Fuller said Continental has been its agent in the region since 2003.
H.B. Fuller is a global adhesives provider with fiscal 2013 net revenue of $2.05 billion. The firm serves the packaging, hygiene, general assembly, electronic and assembly materials, paper converting, woodworking, construction, automotive and consumer industries.