Saint-Gobain Acquires US Construction Chemicals Company GCP for US$2.3 Billion

French industrial giant Saint-Gobain announced on December 6 that it will acquire GCP, a US specialty construction chemicals company, with a transaction value of approximately US$2.3 billion (approximately RMB 14.6 billion) and is expected to be completed by the end of 2022.

Saint-Gobain said in a statement: "This acquisition is a decisive step to establish Saint-Gobain's leading position in the global construction chemicals field. The company's total sales have increased from 3 billion euros to over 4 billion euros (approximately US$4.51 billion)."

According to the agreement, the purchase price is US$32 per share, which is 13.2 times GCP's estimated adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in 2022. The estimated value of adjusted EBITDA in 2022 is $170 million.

GCP has an annual revenue of approximately US$1 billion, has 50 manufacturing plants in 38 countries, employs approximately 1,800 people, and produces cement additives, concrete admixtures, and infrastructure waterproofing products.