Saint-Gobain has now obtained approvals from all relevant competition authorities for its acquisition of GCP Applied Technologies Inc., a major global player in construction chemicals, announced on December 6, 2021. The acquisition will close on September 27, 2022. GCP will delist from the New York Stock Exchange.
With approximately $1 billion revenues generated in 2021 by 1,800 employees working on 50 production sites in 38 countries, GCP Applied Technologies provides a global platform with established success in cement additives, concrete admixtures, infrastructure and commercial and residential building materials.
This acquisition is a major milestone in establishing Saint-Gobain’s leading position worldwide in construction chemicals and furthers the Group’s strategy as worldwide leader in light and sustainable construction.
The specialty building materials business in North America (c. $250 million of sales) will be integrated into the CertainTeed business serving local customers in its Region. All other businesses, consisting of mainly concrete admixtures and cement additives (c. $750 million of sales) will be combined with the Chryso business and be part of the High Performance Solutions segment.
The acquisition of GCP Applied Technologies follows several other growth investments in North America announced by Saint-Gobain in recent months:
- In August, Saint-Gobain completed its $928 million acquisition of Kaycan Ltd., a family-owned manufacturer and distributor of exterior building materials, becoming the top siding player in Canada.
- In May, Saint-Gobain announced a $100 million expansion of its CertainTeed roofing facility in Peachtree City, Ga., more than doubling the site’s production capacity while also reducing its carbon dioxide emissions.
- Also in May, the company announced a $28 million investment in its ADFORS technical textile products facility in Dublin, Ga., creating 400 jobs over the next two years.
- In April, Saint-Gobain announced it was doubling the manufacturing footprint of its CertainTeed Architectural manufacturing site in Lakewood, Ohio, by moving to a new, state-of-the-art location in nearby Strongsville, Ohio.
- Also in April, Saint-Gobain announced a $118 Million expansion of its CertainTeed roofing plant in Oxford, N.C., adding an additional 225,000 square feet of manufacturing space to what was already one of the largest roofing shingle manufacturing sites in North America.
- In February, the company invested $32 Million in its CertainTeed insulation manufacturing site in Chowchilla, Calif., increasing the location’s production capacity by 13% while also reducing its carbon footprint.