Saint Gobain Signs Definitive Agreement to Acquire GCP Applied Technologies

This acquisition is a decisive step in establishing Saint-Gobain’s leading position worldwide in construction chemicals. 

Saint-Gobain and GCP Applied Technologies announce that they have entered into a definitive agreement pursuant to which Saint-Gobain will acquire all of the outstanding shares of GCP for $32.00 per share, in cash, in a transaction valued at approximately $2.3bn (approximately €2.0bn). 

GCP Applied Technologies is a major global player in specialty construction chemicals with approximately $1.0bn revenues, 50 manufacturing plants in 38 countries and employs around 1,800 people. It brings a global platform with established success in cement additives, concrete admixtures, infrastructure and commercial and residential waterproofing. GCP is a unique opportunity for Saint Gobain to establish a leading worldwide presence in the growing construction chemicals sector, delivering both sustainability and performance for customers. The combined platform of Weber, Chryso and GCP offers customers a highly comprehensive portfolio of construction chemicals solutions with strong complementary geographic footprints. 

The acquisition of GCP enriches the CertainTeed portfolio in North America in the residential as well as the commercial sectors, in addition to its strong presence in infrastructure. It enhances its ability to provide a wider customer base with innovative solutions and develop roofing and façade systems. GCP’s recognized high-end innovative solutions will complement the CertainTeed portfolio with their leading presence in roofing underlayment (Ice & Water Shield®) as well as in waterproofing (Preprufe®, Bituthene®). It will offer multiple cross-selling opportunities, improving performance for customers and accelerating growth. 

Simon Bates, President and Chief Executive Officer of GCP, commented, “Today opens an exciting new era in GCP’s rich history, for our shareholders, customers and employees. We are thrilled for GCP to join Saint-Gobain, the ideal strategic partner to support our growth. Thanks to its global platform, significant resources as well as commercial and innovation expertise, Saint-Gobain is perfectly positioned to ensure the success of GCP’s operations and people over the long term.” 

Benoit Bazin, Chief Executive Officer of Saint-Gobain, commented, “The acquisition of GCP is an excellent and significant step for Saint-Gobain to further reinforce its worldwide leadership in construction chemicals and strengthen its geographic presence in North America and emerging markets, both objectives being at the core of our “Grow & Impact” strategic plan. We are very happy and truly excited to welcome into Saint-Gobain the GCP teams, with whom we share the same industrial and commercial culture.” 

About Saint-Gobain  

Saint-Gobain designs, manufactures and distributes materials and solutions for the construction, mobility, healthcare and other industrial application markets. Developed through a continuous innovation process, they can be found everywhere in our living places and daily life, providing wellbeing, performance and safety, while addressing the challenges of sustainable construction, resource efficiency and the fight against climate change. This strategy of responsible growth is guided by the Saint-Gobain purpose, “MAKING THE WORLD A BETTER HOME”, which responds to the shared ambition of all the women and men in the Group to act every day to make the world a more beautiful and sustainable place to live in.