Graco (GGG) announced a new organizational structure. Effective January 1, 2025, the company will move to a global, customer-centric operating structure with four business divisions: Industrial, Expansion Markets, Contractor and Powder. The company's current Industrial and Lubrication Equipment Divisions, along with the Process Transfer Equipment business that is part of the company's Process Division, will be combined to form the global Industrial Division. The Expansion Markets Division will focus on driving inorganic growth in adjacent markets. The Contractor Equipment Division, renamed the Contractor Division, will be restructured to serve the needs of global customers. Powder Division is structured as a global business and will continue to operate as it does now.
Starting January 1, 2025, Graco will classify its business into three reportable segments: Contractor, Industrial and Expansion Markets. The company will report financial results under these reporting segments beginning with the first quarter of 2025.
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