Saint-Gobain announces a €960 million deal to acquire Dubai-based FOSROC, enhancing its presence in high-growth markets like India and the Middle East. Expected synergies of $54 million by the third year.
France, Bollywood Fever: France’s Saint-Gobain has entered into an agreement to acquire Dubai-based construction chemicals company FOSROC for approximately 960 million euros ($1.03 billion) as part of its strategy to drive international expansion, the company announced on Thursday.
The transaction, which will be fully financed with cash, is anticipated to close by the first half of 2025, according to the French construction materials group.
Saint-Gobain has been actively pursuing acquisitions outside of Europe to expand its global footprint in the construction chemicals sector. Since 2021, the Paris-based multinational has acquired 35 companies, including Chryso and GCP, which operate in the same sector.
The acquisition of FOSROC, based in the United Arab Emirates, will enable Saint-Gobain to strengthen its presence in high-growth markets such as India and the Middle East, stated CEO Benoit Bazin.
Saint-Gobain projects to achieve synergies of $54 million in the third year following the completion of the deal.
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