HB Fuller has entered into an agreement to purchase Brazil-based chemical polyurethane specialties and polyester resins provider Plexbond Quimica, for an undisclosed value.
According to HB Fuller, the business generated nearly $20m in revenue for the 2012 fiscal year.
The Plexbond Quimica business collaborates with customers to develop new adhesives solutions, which will enable the global adhesives provider to leverage the value of the company’s existing technologies, particularly those serving the flexible packaging industry.
Following the acquisition, HB Fuller is expected to increase its ability to deliver specialty adhesives solutions, such as laminating adhesives to customers in Brazil and across South America.
HB Fuller president and CEO Jim Owens said the acquisition will help the company to take a step forward on two key aspects of its strategic plan, including establishing a manufacturing presence in Brazil and accelerating its growth in the flexible packaging market.
"H.B. Fuller has a strategic focus on three core areas – packaging, hygiene and durable assembly – and the Plexbond Quimica business will bring us capabilities that we can leverage globally in the important packaging market," Owens said.