Saint-Gobain has acquired Kaycan, a manufacturer and distributor of exterior building materials, for $928 million in cash.
With this acquisition, Saint-Gobain enlarges its vinyl services and becomes the top siding player in Canada.
“This acquisition allows us to strengthen our presence in siding both in Canada and in the United States, but it also allows us to broaden our offering into the exciting growth areas of aluminum and engineered wood siding,” said Benoit Bazin, CEO of Saint-Gobain. “It will create significant value for shareholders, enhance the profitable growth outlook of the Group, enrich our solutions for customers and provide attractive development opportunities for the Kaycan and Saint-Gobain teams.”