Snap-on buys Norbar

Snap-on Incorporated has acquired Banbury, U.K.-based Norbar Torque Tools Holdings Limited along with the company’s joint ventures in the U.S. and China. The purchase expands Snap-on’s existing range of torque products to “critical industries,” the company says. Snap-on paid US$72 million to purchase Norbar. The company is a leading European manufacturer of torque tools and instruments. With the acquisition, Norbar will be part of Snap-on’s commercial and industrial group.