H.B. Fuller Co. recently announced that it has signed an agreement to purchase Advanced Adhesives, a provider of industrial adhesives in Australia and New Zealand. With fiscal 2015 net revenue of $17 million, this business will be included in H.B. Fuller’s Asia-Pacific operating segment.
Advanced Adhesives supplies to a range of industries, including consumer packaged goods, woodworking and product assembly applications. The addition of this business will reportedly enable H.B. Fuller to strengthen its industrial adhesives market position and leverage a broader technology portfolio in both Australia and New Zealand.
“With this acquisition, we will accelerate our profitable growth agenda in Australia and New Zealand,” said Heather Campe, vice president, Asia-Pacific. “Advanced Adhesives’ manufacturing capabilities and local market expertise complement our strong network in China, Malaysia and the Philippines. This new business also will enable us to leverage capacity in the region to better serve our current customers and access new markets.”
The acquisition is expected to close by late April.