BRUSSELS (dpa-AFX) - Sika AG (SXYAY.PK, SKFOF.PK), on Thursday, announced that it has signed a definitive agreement to acquire MBCC Group, the former BASF Construction Chemicals, from an affiliate of Lone Star Funds, a global private equity firm, for a consideration of CHF 5.5 billion (EUR 5.2 billion).
The acquisition will complement and broaden Sika's product and solution offerings in four of five core technologies and seven of eight Sika Target Markets and will further strengthen its geographic footprint. The combined business will be a key accelerator in enabling both Sika's and MBCC Group's customers and the construction industry to drive the sustainable transformation further and faster.
The company noted that the deal will accelerate Sika's resilient Growth Strategy 2023 and beyond. Sika will expand its product and service offering in construction chemicals and industrial adhesives by adding the highly complementary portfolio of MBCC Group and is set to reach sales in excess of CHF 13 billion in 2023.
The combination will lead to a very balanced product portfolio with all of Sika's Target Markets achieving between CHF 1 and 2 billion in sales, Sika said. Further, the company stated that the customers will benefit from an enhanced and more efficient distribution network across all construction markets.
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