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🇺🇸 SECGraco Inc.Codex · 实盘不做把握 6/10不做原因:无增量信息
北京时间·🕒 发布 20:30:05·⟳ 抓取 20:30:31 +26s·⚡ 决策 09-01 23:49:08 +3h18m·56.0 天前

Graco完成此前已宣布的4.47亿美元收购Valco Melton交易

这是已公告并预期在第三季度完成的并购交割,4.47亿美元交易相对约125亿美元市值和Graco约22亿美元年化销售规模不构成足够新的短线交易催化。

📄 原文Graco Inc.↗ 原文
----- d100947d8k.htm ----- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REP…
不做 Graco Inc.(GGG.US)
不做:收购交割方向正面但主要条款5月已公告,本次新增事实有限;相对市值和收入量级不足以支撑盘中追多。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)

研究档案

结论摘要

Graco完成收购Valco Melton确认了既有并购计划,有助于扩展工业胶粘剂施胶和检测技术,但签约、金额、战略逻辑和预计完成时间均已在5月公告;本次披露的增量主要是交割完成。按Valco 2025年1.45亿美元收入估算,约为Graco近期年化销售额的6%左右,交易金额约占市值3.6%,不足以抵消事件已充分预告带来的price-in风险,因此不追多。

🔎 新鲜度:最早出现 2026-05-21 · 扩散 medium · price-in 风险 high ↗ ↗ ↗

消息传播链

  1. 2026-05-21 08:30 ET官方确认Graco IR原文 ↗
    Graco首次公告签署收购Valco Melton协议,披露4.47亿美元现金对价和预计第三季度完成。
  2. 2026-09-01 08:30 ET官方确认SEC EDGAR一手源原文 ↗
    Graco提交8-K并附新闻稿,确认8月31日已完成此前公告的Valco Melton收购。
    市场反应:公开行情源显示GGG上一交易日收于77.43美元,较前收79.29美元下跌约2.35%。

关键理由

  • Valco Melton并入工业分部可补强Graco在胶粘剂精密施胶和质量检测领域的产品线。
  • Valco 2025年收入约1.45亿美元,对Graco约22亿美元年化销售基数约6%左右,属于有业务增量但非重估级别。
  • 交易金额4.47亿美元约占Graco约125亿美元市值的3.6%,且条款早已公开,交割本身预期差有限。

主要风险

  • 并购协同、整合节奏和10倍2026年协同后EBITDA估值兑现仍需后续财报验证。
  • 5月签约公告已充分披露关键交易信息,9月交割公告容易被市场视为程序性落地。

反向证据

  • 做多前查反向 · 来源 web · 日期 2026-05-21 · 影响 weakens
    反向证据是交易核心条款和完成时间窗口早已公开,本次交割不是全新并购催化。
    检索:Graco Valco Melton acquisition already announced May 21 2026 原文 ↗
  • 做多前查反向 · 来源 web · 日期 2026-07-22 · 影响 weakens
    Graco 2026上半年销售额11.31亿美元,Valco 2025收入1.45亿美元,增量有意义但相对公司整体规模不大。
    检索:Graco Q2 2026 sales Valco Melton 2025 revenue materiality 原文 ↗

先例如何影响了这次决策

对本次决策的影响:先例不足叠加本事件核心条款已公开,使结论偏向不追交易。

方向:未使用可量化高相似先例支撑交易方向。

涨幅量级:并购交割类事件通常需区分签约首发与交割落地;本轮未取得足够同市场、同阶段、同量级锚点来校准涨幅。

形态:样本不足,不能声称存在稳定上涨或见光死模式。

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原文全文

展开原文 · 7,829 字
----- d100947d8k.htm -----
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 31, 2026
Graco Inc.
(Exact name of registrant as specified in charter)
Minnesota
001-09249
41-0285640
(State or other Jurisdiction
of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
88 - 11th Avenue Northeast
Minneapolis
,
Minnesota
55413
(Address of principal executive offices)
(Zip Code)
(612)
623-6000
Registrant’s telephone number, including area code
Not Applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
☐
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Common Stock
GGG
The New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter). Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01
Regulation FD Disclosure.
On August 31, 2026, Graco Inc. (the “Company”) announced that it had closed the acquisition it had previously announced on May 21, 2026, of Valco Cincinnati, Inc. doing business as Valco Melton, a global provider of adhesive application and quality assurance systems.
The full text of the press release, dated August 31, 2026, is attached as Exhibit 99.1 to this Current Report on Form
8-K.
The information in the exhibit hereto contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Such statements are made based on the current beliefs and expectations of the Company’s management and are subject to certain risks and uncertainties. Actual results or events may differ from those anticipated by forward-looking statements. Please refer to the last paragraph of the attached press release for information concerning risks, uncertainties, and other factors that may affect future results.
The information furnished pursuant to Item 7.01 of this Current Report, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of such section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act, or under the Exchange Act, unless the Company expressly sets forth in such future filing that such information is to be considered “filed” or incorporated by reference therein.
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits
99.1
Press Release dated August 31, 2026.
104
Cover Page Interactive Data File (included within the Inline XBRL document).
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GRACO INC.
Date:
September 1, 2026
By:
/s/ Joseph James Humke
Joseph James Humke
Its: Executive Vice President, General Counsel and
Corporate Secretary

----- d100947dex991.htm -----
EX-99.1
2
d100947dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Graco Inc. Closes Acquisition of Valco Melton
Acquisition expands Graco’s capabilities and global reach in precision adhesive application and quality assurance technologies.
MINNEAPOLIS – August
31, 2026 –
Graco Inc. (NYSE: GGG), a global leader in fluid and powder handling
technologies, today announced it has completed its acquisition of Valco Melton, a global provider of adhesive application and quality assurance systems, for $447 million in cash. When adjusted for the present value of expected tax benefits of
approximately $40 million, the net transaction value represents approximately 14x 2025 adjusted EBITDA, and approximately 10x 2026 estimated full year, synergy-adjusted EBITDA.
Valco Melton designs, manufactures and supports industrial systems that precisely apply adhesives and verify quality during production. Its solutions are used
primarily in packaging and other industrial manufacturing applications where quality, reliability and consistent performance are critical.
“Today
marks an exciting milestone as we officially welcome Valco Melton to Graco,” said Mark Sheahan, President and CEO of Graco. “Valco Melton expands our capabilities in precision adhesive dispensing and quality assurance technologies while
strengthening our ability to help manufacturers improve productivity, product quality and operational efficiency. Together, we are well positioned to deliver greater value to customers around the world.”
Valco Melton has approximately 650 employees, serves customers in more than 80 countries, and generated approximately $145 million in revenue in 2025.
“With the acquisition complete, we are focused on realizing the opportunities created by combining Valco Melton’s leading adhesive dispensing
and inspection technologies with Graco’s global scale and manufacturing expertise,” said Sheahan. We look forward to building on their legacy with a shared commitment to innovation, quality and customer success.”
Valco Melton will become part of Graco’s Industrial segment. This acquisition reinforces Graco’s disciplined approach to capital allocation and
M&A, driving growth by expanding its participation in attractive end markets, enhancing and leveraging its global capabilities, and adding technologies that support both original equipment and aftermarket demand.
About Graco
Graco Inc. supplies technology and expertise for the management of fluids and coatings in both industrial and commercial applications. It
designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the
manufacturing, processing, construction, and maintenance industries. For additional information about Graco Inc., please visit us at
www.graco.com
.
Cautionary Statement Regarding Forward-Looking Statements
The Company desires to take advantage of the “safe harbor” provisions regarding forward-looking statements of the Private Securities Litigation
Reform Act of 1995 and is filing this Cautionary Statement in order to do so. The Company’s statements about the expected impacts of the closing of the acquisition, including with respect to existing presence, benefits to customers, growth and
expansion are forward-looking statements. The expected impacts of the closing of the acquisition could differ due to any event, change or other circumstance that prevents the parties from achieving these results in a timely fashion or at all.
###
FOR FURTHER INFORMATION:
Investors: John Bower,
612-623-6770
John_M_Bower@graco.com
Media: Kirstie Foster,
612-623-6249
Kirstie_l_foster@graco.com

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