French construction materials company and longtime BuiltWorlds Venture Forum member Saint-Gobain has agreed to buy Building Products of Canada Corp for about 925 million euros ($994 million), it recently announced.
Saint-Gobain said it has entered into a definitive agreement to acquire the privately-owned Canadian maker of roofing shingles and insulation panels. The transaction is expected to close by the end of the year.
Saint-Gobain, which employs roughly 170,000 people around the world, is expanding its foothold in North America, having also acquired Canada’s Kaycan and GCP Applied Technologies in the United States.
Building Products of Canada has some 460 employees and three manufacturing plants in Montreal, Edmonton and Pong-Rouge, where it produces roof shingles and insulation panels among other construction products.
Saint-Gobain’s CEO, Benoit Bazin, said in a statement that the acquisition will allow Saint-Gobain to become a leader for roofing in Canada and will complement its existing operations there and in the U.S.
The deal will create value by year three after the transaction closes and will be earnings-per-share accretive from year one, the group said in a statement, adding it estimates synergy opportunities of around C$50 million ($37.37 million) by the third year after the deal’s closure.
BuiltWorlds is in Saint-Gobain’s backyard this week at our 2023 Paris Summit. At the Summit, attendees can expect to gain uniquely valuable insights around how global companies are innovating and disrupting the industry, how sustainability initiatives and technology are impacting the industry, how venture funds are playing a large part in the sector in that region of the world and beyond, and much more. With information and technology increasingly connecting the world, every company, regardless of size and location, must understand the impact, opportunities, and challenges of thinking globally.
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