(Reuters) – Saint-Gobain announced on Tuesday that it has reached a definitive agreement to acquire Kaycan, a family-owned company that produces and distributes outdoor building materials in Canada and the United States.
The amount of the acquisition amounts to 928 million US dollars in cash (about 860 million euros) and the transaction should be finalized by the end of the year, said the French group in a press release.
The transaction will increase Saint-Gobain’s offer in the field of sustainable construction and strengthen the company’s position in North America, said Benoît Bazin, group general manager, during a conference. telephone.
(Report Juliette Portala, French version Diana Mandiá, edited by Sophie Louet)
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