PARIS (Agefi-Dow Jones)–Saint-Gobain announced on Tuesday that it has reached a definitive agreement to acquire Kaycan, a Canadian manufacturer of outdoor building materials, for an amount of 928 million US dollars in cash (approximately 860 million euros).
Founded in 1974, the Canadian family group should achieve a gross operating surplus (Ebitda) of 83 million dollars during its 2021-2022 financial year, for a turnover of 472 million dollars.
The transaction is expected to be finalized by the end of 2022. Saint-Gobain plans to sell Kaycan’s distribution business in the United States in the process. The group also expects full-year synergies of $30 million.
“With this acquisition, Saint-Gobain reinforces its status as a world leader in sustainable construction by becoming the major player in siding in Canada and by expanding its vinyl covering offer in the United States with solutions including in particular complementary products based on aluminum or transformed wood”, commented the group in a press release.
-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; [email protected] ed: ECH
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May 31, 2022 12:26 ET (16:26 GMT)