H.B. Fuller Co. (NYSE: FUL), St. Paul, MN, has agreed to purchase Adecol Ind. Química, Limitada, a manufacturer of adhesive technologies in Brazil. Adecol had sales of nearly USD $40 million for the 2016 fiscal year.
H.B. Fuller will pay 8x 2016 EBITDA for the business.
“H.B. Fuller has a strategic focus on growing our presence in emerging markets, and the Adecol team has deep market knowledge and local manufacturing capabilities that will enable us to partner more closely with customers and to grow in Brazil and across Latin America," said Jim Owens, president and CEO, H.B. Fuller.