Saint-Gobain to Buy Mexico-Based Chemical Supplier Ovniver for $815 Million

By Connor Hart

Compagnie de Saint-Gobain will acquire Ovniver, a Mexico-based supplier of construction chemicals, for $815 million, the French building-materials company said Thursday.

The deal, which will be fully financed in cash, is roughly 13 times Ovniver's 2024 earnings before interest, tax, depreciation and amortization of $62 million.

The transaction is subject to customary conditions and is expected to close in the first half of 2025.

Ovniver, with 16 manufacturing plants and about 1,000 employees, is expected to generate annual revenue of $285 million. The company will be consolidated into Saint-Gobain's Americas Region.

Saint-Gobain said it expects to have combined sales of about $7.16 billion following the acquisition. Ovniver will strengthen the company's presence in the high-growth Mexican and Central American markets, and the acquisition aligns with Saint-Gobain's strategy to accelerate its worldwide presence in construction chemicals, it said.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

August 15, 2024 14:44 ET (18:44 GMT)

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