H.B. Fuller Company has acquired the adhesives and resins businesses of Probos, S.A., a licensee of Fuller’s Rakol woodworking brand in Portugal.
The business includes water-based, hot-melt, reactive and solvent-based adhesives for the assembly, woodworking, footwear and converting industries and emulsions for the paint, textiles and food product industries sold mainly in the Portuguese and Spanish markets. The unit’s annual sales were approximately $30 million.
“The addition of Probos’ adhesives and resins operations to our existing business will provide us with a strengthened platform from which to grow our European market and, in turn, enhance value to our shareholders,” said Jim Conaty, H.B. Fuller group president and general manager, Global Adhesives.
The Probos’ businesses will be incorporated into H.B. Fuller’s European operations. Probos’ edges and foam businesses were not part of the deal.
Published August 11, 2005
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