Saint-Gobain to Acquire GCP Applied Technologies
GCP products include concrete and cement additives and building materials.
French construction materials company Saint-Gobain (SGOB.PA) on Monday said it would buy GCP Applied Technologies (GCP.N) in a deal that values the U.S.-based specialty construction chemicals company at around $2.3 billion.
"This acquisition is a decisive step in establishing Saint-Gobain's leading position worldwide in construction chemicals with total sales of more than 4 billion euros ($4.51 billion), up from 3 billion euros," Saint-Gobain said in a statement.
The purchase of GCP comes around seven months after the acquisition of Chryso, another player in the specialty construction chemicals business, for an enterprise value of more than $1 billion.
"After the successful acquisition of Chryso, GCP is the logical next step to expand Saint-Gobain's presence in admixtures and additives, which provide key solutions to de-carbonize the construction industry," Saint-Gobain said.
In 2016, W.R. Grace separated into two independent public companies, Grace and GCP Applied Technologies. Headquartered in Cambridge, Massachusetts, GCP Applied Technologies has over 50 years of industry expertise and decades of success in creating new product categories and markets.
Our portfolio of construction products includes concrete and cement additives, building materials and technologies that ensure specified quality and enhance business productivity.
Learn more at www.saint-gobain.com and https://gcpat.com/en.
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