Saint-Gobain entered into a definitive agreement to acquire FOSROC. Following the acquisitions of Chryso in 2021, GCP in 2022 and 33 additional acquisitions since 2021, the move is a strategic step in establishing Saint-Gobain’s worldwide presence in construction chemicals, which will have combined sales of €6.2 billion across 73 countries.
FOSROC is a global construction chemicals player with a strong geographic footprint in India, the Middle East and Asia-Pacific in particular. With 20 manufacturing plants, FOSROC provides a wide range of technical solutions for the construction industry, including admixtures and additives for concrete and cement, adhesives and sealants, waterproofing solutions, concrete repair solutions and flooring.
As per the press release, the integration will be led by Thierry Bernard, Chief Executive Officer of Construction Chemicals. It will be consolidated into the High Performance Solutions segment.
Benoit Bazin, Chairman and Chief Executive Officer of Saint-Gobain, commented, “The acquisition of FOSROC is perfectly aligned with our “Grow & Impact” strategic plan: it is a unique opportunity for Saint-Gobain to further reinforce its worldwide presence in construction chemicals, and to strengthen its presence in high-growth emerging markets, in particular in India and the Middle East. I am very impressed with FOSROC’s leadership, its strategy and its impressive development, as well as the team’s track record of excellent execution and profitable growth. The combination of the two groups will allow us to expand our profitable growth platform in construction chemicals. I am looking forward to warmly welcoming the FOSROC teams into the Group and I am very confident about the combination of our joint forces”.
Jim Hay, Chairman of FOSROC said, “This marks the beginning of an exciting new chapter in the history of FOSROC. Our focus on delivering the best solutions and satisfaction to our customers has enabled us to become a leading player in construction chemicals. I want to thank all our teams for their outstanding work over many years”.
Rob Bonnici, Chief Executive Officer of FOSROC added, “The opportunity to join Saint-Gobain, worldwide leader in light and sustainable construction and a global player in construction chemicals is the perfect next step to enhance our offer by leveraging Saint-Gobain’s innovation and technology in construction chemicals. I look forward to continuing our growth journey within Saint-Gobain”.
