Saint-Gobain to Buy Fosroc for $1 Billion
By Nina Kienle
Saint-Gobain has agreed to acquire Fosroc International, a privately owned global construction chemicals company, for $1.0 billion.
The French manufacturing company on Thursday said the acquisition is a strategic step in establishing its worldwide presence in construction chemicals.
Fosroc has a strong presence in particular India, the Middle East and Asia-Pacific and is expected to generate $487 million of sales and an earnings before interest, taxes, depreciation, and amortization margin of 18.7% in 2024 estimates, Saint-Gobain said.
The acquisition will be fully financed in cash and is expected to close in the first half of 2025, it said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
June 27, 2024 01:47 ET (05:47 GMT)
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