Saint-Gobain seals C$1.3bn acquisition of Building Products of Canada Corp.

Saint-Gobain has announced the successful completion of its acquisition of Building Products of Canada Corp., a transaction initially disclosed on June 12, 2023. Building Products of Canada, a dominant manufacturer of residential roofing shingles and wood fiber insulation panels in Canada, was acquired for C$1,325 million (approximately €925 million) in an all-cash deal.

This latest acquisition solidifies Saint-Gobain’s market-leading position in light and sustainable construction worldwide. Building Products of Canada will join Saint-Gobain’s CertainTeed business in the Americas Region, particularly complementing its existing operations in Canada. With the inclusion of Building Products of Canada, Saint-Gobain now commands a staggering C$1.835 billion in sales in the Canadian market, adding C$435 million to its already robust C$1.4 billion sales figure.

The acquisition of Building Products of Canada is part of a more significant, aggressive growth strategy for Saint-Gobain in North America. It follows the company’s earlier acquisitions of Kaycan and GCP in 2022. Saint-Gobain has consistently made investments to broaden its North American presence; from the $235 million expansion of its CertainTeed Gypsum facility in Florida, to the opening of a new CertainTeed Corners facility in Georgia, and acquiring the technology for recycling asphalt shingle waste.

The deal also strengthens Saint-Gobain’s CertainTeed Canada operations, which already lead in interior solutions such as gypsum, insulation, and ceilings. Building Products of Canada’s roofing solutions will complete CertainTeed Canada’s exterior solutions offering, rounding it out with siding acquired through last year’s Kaycan purchase.

Paul Ruppert, the President of Saint-Gobain North America, hailed the acquisition as a logical next step for Saint-Gobain to better serve its Canadian customers by offering a more extensive range of innovative and sustainable solutions. He mentioned that this acquisition is a major milestone that will solidify Saint-Gobain’s commitment to delivering cutting-edge, sustainable construction solutions to communities worldwide.

This development is in line with Saint-Gobain’s aim to become the first zero-carbon wallboard plant in North America, following their earlier investment to upgrade equipment at its gypsum facility outside Montreal.

In summary, Saint-Gobain’s acquisition of Building Products of Canada is not just a transaction but a powerful statement reinforcing the company’s dedication to innovation, sustainability, and global leadership in the construction industry.