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French materials company Saint-Gobain has completed the acquisition of construction chemicals manufacturer Fosroc for an undisclosed amount. Through the purchase, Saint-Gobain hopes to move into high-growth markets in light and sustainable construction in Fosroc’s strongholds in India, the Middle East and Asia-Pacific. Fosroc is expected to have $487m of revenue in 2024 and has maintained a growth rate of around 11% a year on average since 2021. It has 20 manufacturing plants and 3,000 employees, creating admixtures and additives for concrete and cement, adhesives and sealants, waterproofing products, concrete repairs and flooring. Saint-Gobain estimates it will have combined sales worth €6.5bn across 76 countries following the acquisition. In August 2024 Saint-Gobain bought Mexican privately-owned chemical company Ovniver Group for $815m. |
