Industry France’s Saint-Gobain buys Dubai’s Fosroc for $1bn By Pramod Kumar June 28, 2024, 3:22 AM Fosroc Fosroc is expected to generate $487 million in sales and achieve an Ebitda margin of 18.7 percent in 2024 French construction materials group Saint-Gobain has signed an agreement to purchase Fosroc, a Dubai-based construction chemicals company, for €960 million ($1.03 billion) to expand its international operations. The deal follows the company’s 35 acquisitions since 2021, resulting in combined sales of €6.2 billion across 73 countries after the latest move. The transaction is expected to close by the first half of 2025, the Paris-headquartered company said in a statement. NewsletterGet the Best of AGBI delivered straight to your inbox every week NewsletterGet the Best of AGBI delivered straight to your inbox every week The acquisition will allow Saint-Gobain to expand in high-growth markets such as India and the Middle East, chairman and CEO Benoit Bazin said. Saint-Gobain anticipates achieving $54 million in synergies within three years of completing the deal. Fosroc is expected to generate $487 million in sales and achieve an Ebitda margin of 18.7 percent in 2024. The company has 20 manufacturing plants and around 3,000 employees. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
