India, May 21 -- Graco Inc.(GGG), a fluid and powder handling technologies company, said on Thursday that it has inked a deal to acquire Valco Melton, an adhesive application and quality assurance systems provider, for $447 million in cash. This includes around $40 million in expected tax benefits.
Mark Sheahan, CEO of Graco, said: "This acquisition is a strong strategic fit for Graco and a natural extension of our industrial portfolio. Valco Melton expands our capabilities in precision sealant and adhesive dispensing, which closely aligns with Graco's core expertise in fluid handling, while adding complementary vision-based quality assurance systems."
The transaction is expected to be closed in the third quarter of Graco's fiscal.
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