Graco receives notice of FTC filing for public comment

Graco (GGG) was informed that the Federal Trade Commission has filed for public comment a proposed order that will require Graco to sell the worldwide liquid finishing businesses that were acquired from Illinois Tool Works (ITW) on April 2. If the proposed order is not revised after the thirty day public comment period, Graco will be required to sell the liquid finishing operations, including those involved in the development, manufacture and sale of Binks spray finishing equipment, DeVilbiss spray guns and accessories, Ransburg electrostatic equipment and accessories and BGK curing technology. The recent acquisition from ITW included Gema, a global leader in powder coating technology, which passed review by the FTC and will remain with Graco. At the conclusion of the public comment period, the FTC will issue a final decision and order that will identify the products, businesses and/or assets that Graco must divest. Such divestiture must be completed within 180 days following the issuance of the final decision and order.