Bostik Inc. (Wauwatosa, Wis.) acquired floor covering adhesive manufacturer XL Brands (Dalton, Ga.).
The deal was valued at $205 million, 11 times XL Brand’s earnings before interest, taxes, depreciation and amortization.
“XL Brands offers innovative and environmentally friendly solutions that are fully complementary to Bostik’s product range in the United States,” Arkema, Bostik’s parent company, said in a statement. Arkema added that it plans for its adhesive category to exceed one-third of the firm’s sales by 2023.
The acquisition is the second of the year for Bostik, which bought Bensalem, Pa.-based CMP Specialty Products in May.
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