H.B. Fuller Co. recently announced it has signed an agreement to purchase Tonsan Adhesive Inc. The acquisition reportedly adds strong customer relationships in high-value, fast-growing engineering adhesives markets, state-of-the-art manufacturing facilities, and strong product and technology development capabilities.
Tonsan’s current annual revenue is about $100 million. H.B. Fuller will acquire 95% of the equity of Tonsan for cash consideration of Rmb 1.4 billion, or about $230 million. The four founding shareholders of Tonsan will remain with the company as a part of the leadership team and retain a minority equity interest.