Sources: Saint-Gobain, Paris; CP staff
Following approvals from North American and overseas regulators, Saint-Gobain has completed a takeover of Georgia-based GCP Applied Technologies Inc. Distinct GCP profit centers have separate destinations. Cement additive and concrete admixture assets will be combined with Chryso Inc., which Saint-Gobain acquired in mid-2021 and positioned in its High Performance Solutions segment. A specialty materials business offering above or below grade coatings and membranes will be integrated with Saint-Gobain’s top U.S. building brand, Malvern, Pa.-based CertainTeed LLC. A key roofing, siding & insulation player, CertainTeed also recently entered manufactured stone veneer production.
Saint-Gobain acquired all outstanding GCP stock at $32/share per a December 2021 offer. With approximately $1 billion in 2021 revenues and a payroll of 1,800 employees across 50 production sites in 38 countries, GCP provides the suitor “a global platform with established success in cement additives, concrete admixtures, infrastructure and building materials,” management notes, adding, “This acquisition is a major milestone in establishing Saint-Gobain’s leading position in construction chemicals and furthers the Group’s strategy as worldwide leader in light and sustainable construction.”
The GCP deal dovetails Saint-Gobain’s recent announcement of other North American market investments: A $928 million acquisition of Kaycan Ltd., a family-owned exterior building material manufacturer and distributor in Canada, plus $100 million and $118 million expansions of respective CertainTeed Peachtree City, Ga. and Oxford, N.C. roofing product operations.