Saint-Gobain Completes its Acquisition of Kaycan
- S&P 500 ends near two-year low as bear market deepens
- From TINA to TARA: Goldman Gets More Defensive, Downgrades Equities to Underweight
- Doubleline Capital's Gundlach Says He is Buying Treasurys
- Apollo Global Management Exploring Ryder System (R) Acquisition - Bloomberg
- BofA Clients are Buying Defensive Stocks, Shifting Away from Cyclicals - Analyst
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
MALVERN, Pa.--(BUSINESS WIRE)-- On July 29, 2022 Saint-Gobain completed the acquisition announced on May 31, 2022 of Kaycan, a manufacturer and distributor of exterior building materials in Canada and in the United States.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220801005437/en/
With this acquisition, Saint-Gobain reinforces its worldwide leadership in light and sustainable construction by becoming the top siding player in Canada and enlarging its vinyl offer across the United States with complementary solutions in aluminum and engineered wood.
As part of this acquisition and in line with our previous announcement, the divestment of Kaycan’s small US distribution business is progressing well and its closing is expected in the third quarter of 2022. The EBITDA multiple of approximately 8x post synergies and divestment of US distribution is confirmed.
Kaycan joins the local North American construction business, within the Americas Region.
The acquisition of Kaycan follows several other North American growth investments announced by Saint-Gobain in recent months:
- In May, Saint-Gobain announced a $100 Million expansion of its CertainTeed roofing facility in Peachtree City, Georgia, more than doubling the site’s production capacity while also reducing its carbon dioxide emissions.
- Also in May, the company announced a $28 Million investment in its ADFORS technical textile products facility in Dublin, Georgia, creating 400 jobs over the next two years.
- In April, Saint-Gobain announced it was doubling the manufacturing footprint of its CertainTeed Architectural manufacturing site in Lakewood, Ohio by moving to a new, state-of-the-art location in nearby Strongsville, Ohio.
- Also in April, Saint-Gobain announced a $118 Million expansion of its CertainTeed roofing plant in Oxford, North Carolina, adding an additional 225,000 square feet of manufacturing space to what was already one of the largest roofing shingle manufacturing sites in North America.
- In February, the company invested $32 Million in its CertainTeed insulation manufacturing site in Chowchilla, California, increasing the location’s production capacity by 13% while also reducing its carbon footprint.
- In December, Saint-Gobain announced its intent to purchase construction chemicals manufacturer GCP Applied Technologies for $2.3 Billion.
Through the responsible development of innovative and sustainable building products, CertainTeed, headquartered in Malvern, Pennsylvania, has helped shape the building products industry for more than 115 years. Founded in 1904 as General Roofing Manufacturing Company, the firm’s slogan “Quality Made Certain, Satisfaction Guaranteed,” inspired the name CertainTeed. Today, CertainTeed is a leading North American brand of exterior and interior building products, including roofing, siding, solar, fence, railing, trim, insulation, drywall and ceilings. www.certainteed.com.
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “MAKING THE WORLD A BETTER HOME”.
€44.2 billion in sales in 2021
167,000 employees, located in 76 countries
Committed to achieving Carbon Neutrality by 2050
For more details on Saint-Gobain, visit http://www.saint-gobain.com and follow us on Twitter @saintgobain.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Startek® Realizes Benefits of Investment in People, Process and Infrastructure
- Tractor Supply Foundation Donates $100,000 to Support American Red Cross Disaster Relief
- PAWTOCOL ANNOUNCES EXPANSION OF PAWTOCOL PET FUND, ADDING NEW RESCUE PARTNER IN CALIFORNIA
Create E-mail Alert Related CategoriesBusiness Wire, Press Releases
Related EntitiesTwitter, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!