On December 6, 2021, GCP announced that it entered into a definitive agreement in which Saint-Gobain will acquire all of the outstanding shares of GCP, valued at approximately $2.3 billion.
GCP, also known as GCP Applied Technologies, is a leading global provider of construction products technologies that include admixtures and additives for concrete and cement, the Verifi in-transit concrete management system, high-performance waterproofing products, and specialty construction products. GCP products have been used to build some of the world’s most renowned structures.
“Today opens an exciting new era in GCP’s rich history, for our shareholders, customers and employees," comments Simon Bates, President and Chief Executive Officer of GCP. "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.”
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.
“The Board of GCP is unanimously supportive of this transaction and believes it provides full and fair value to all shareholders of GCP," says Peter Feld, Independent Chair of the Board of GCP. "Saint-Gobain represents a great partner for GCP and we are pleased to have reached this agreement. The Board would like to thank our leadership team and our dedicated employees for their significant contributions to GCP. These efforts have allowed us to achieve this great result.”
Chief Executive Officer of Saint-Gobain, Benoit Bazin comments, “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.
"Given GCP’s leadership in its sector with well-recognized brands, expertise, know-how and businesses that are highly complementary with Chryso and CertainTeed, we are convinced that this great combination will create a very strong platform, with improved reach, value added solutions and services delivered to our customers. Leveraging Saint-Gobain’s scale and innovation capabilities, with GCP’s attractive geographic footprint, this transaction will result in enhanced profitable growth and value creation for our shareholders and will provide attractive development opportunities for both teams around the world.”
