In December 2021, Saint-Gobain entered into an agreement in which they would acquire all outstanding shares of GCP Applied Technologies (GCP) - effectively merging the companies for a value of approximately $2.3 billion.
As of September 27, 2022, the acquisition has closed.
Further strengthening the company's footing in the construction industry, Simon Bates, President and Chief Executive Officer of GCP is thrilled about the merger. "Saint-Gobain is perfectly positioned to ensure the success of GCP's operations and people over the long term," he says.
Chief Executive Officer of Saint-Gobain, Benoit Bazin sees the acquisition as an excellent and significant step for the company, reinforcing it's leadership in construction chemicals, and strengthening its presence in North Amercia. Quoted in the December 2021 announcement:
"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.”
Concrete Contractor reached out to GCP and Saint-Gobain to comment on what this merger might mean for concrete contractors; they assured us that contractors will receive the most innovative construction solutions to solve today's construction challenges.
The company representative adds, "Combining the strengths and resources of both organizations represents a great opportunity for GCP to provide our partners and customers the most advanced and innovative products and solutions across many geographies. Saint-Gobain is a global leader in the construction chemicals market and offers a broad portfolio of sustainable solutions. Saint-Gobain is one of the most innovative companies in the world, with a 350-year history of developing new solutions and technologies, and will support GCP with its innovation capabilities and operational excellence."
Read more at gcpat.com.
