H.B. Fuller Co. acquires Wisdom Worldwide Adhesives
By Canadian Packaging staff
General adhesives company acquisition H.B. Fuller Company Wisdom Worldwide AdhesivesNew business supports H.B. Fuller’s 2020 strategic growth plan.
ST. PAUL, MINN—H.B. Fuller Company has purchased the industrial adhesives business of Wisdom Worldwide Adhesives, a provider of adhesives for the packaging, paper converting, and assembly markets.
“We are pleased to welcome the employees and customers of this 140 year old company to H.B. Fuller. Wisdom’s highly successful go-to-market strategy, based on a focused product line, ultra-fast delivery and virtual service, will complement H.B. Fuller’s full value solutions. The acquisition will strengthen our leading position in this market segment within the Americas adhesive business,” says H.B. Fuller president and chief executive officer Jim Owens. “The combination of H.B. Fuller and Wisdom provides significant cost synergy opportunities combined with some growth opportunities related to the complementary operating model and customer bases of the two companies. This acquisition will enhance and strengthen the delivery of our 2020 strategic plan commitments.”
Founded in 1875, Wisdom has been privately-owned and operated by five consecutive generations of the Wisdom family and is headquartered in Elgin, Illinois. The company generated revenue and EBITDA of approximately US$100 million and $11 million, respectively, in fiscal 2016.
The business was purchased for US$122 million and is expected to generate annual run rate synergies of approximately $6-million starting in 2018.
The business will be included in H.B. Fuller’s Americas Adhesives operating segment.
About H.B. Fuller
For 130 years, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. With fiscal 2016 net revenue of US$2.1 billion, H.B. Fuller’s commitment to innovation brings together people, products and processes that answer and solve some of the world’s biggest challenges. Customers are electronics, disposable hygiene, medical, transportation, clean energy, packaging, construction, woodworking, general industries and other consumer businesses. For more information, visit www.hbfuller.com.
Image purchased via www.fotolia.com.
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