Saint-Gobain Acquires Continental Building Products
Saint-Gobain and Continental Building Products announced that they have entered into a definitive agreement pursuant to which Saint-Gobain will acquire all of the outstanding shares of Continental Building Products for $37.00 per share, in cash, in a transaction valued at approximately $1.4 billion (approximately €1.3 billion). The business combination has been unanimously approved by the Board of Directors of Saint-Gobain and by Continental Building Products’ Board of Directors.
Continental Building Products, a highly respected plasterboard player in North America, employs 645 people and is expected to generate 2019 revenues of approximately $510 million and adjusted EBITDA of approximately $130 million per broker consensus. The business has strong geographic complementarity with Saint-Gobain’s North American operations, good positioning in growth regions in the East and South-East of the United States and strong profitability.