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Saint-Gobain to Close Acquisition of GCP Applied Technologies on 27 September
Friday 23 September 2022

French building materials group Saint-Gobain has now obtained approvals from all relevant competition authorities for its acquisition of US-based construction chemicals provider GCP Applied Technologies Inc., the group said.

This USD 32/share, USD 2.3bn cash deal was announced on December 6, 2021. The acquisition will close on September 27, 2022. GCP will delist from the New York Stock Exchange.

With approximately USD 1bn 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. USD 250m 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. USD 750m of sales) will be combined with the Chryso business and be part of the High Performance Solutions segment.
Date Published: 23/09/2022