Saint-Gobain acquiring Continental Building Products
Saint-Gobain is paying $37 per share in a $1.4 billion deal.
Global building products manufacturer Saint-Gobain has entered into a definitive acquisition agreement with Continental Building Products.
Under terms of the agreement, Saint-Gobain is acquiring all of the outstanding shares of Continental Building Products at a price of $37 per share. The total transaction is valued at $1.4 billion and has already been approved by Saint-Gobain and Continental Building Products’ board of directors.
Continental Building Products manufactures plasterboard in North America and employs 645 people. The company expects 2019 revenues of $510 million.
According to Saint-Gobain, Continental has a strong geographic platform that ties in with Saint-Gobain’s existing North American operations, good positioning in growth regions in the East and Southeast United States, and strong profitability.
The acquisition is expected to close in the second half of 2020.
Saint-Gobain’s existing North American businesses include CertainTeed building products.
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