Mergers & Acquisitions
Holcim to Acquire Xella in $2.0B Deal
The deal strengthens Holcim’s position in Europe’s $13B walling market and advances its NextGen Growth 2030 strategy.
Acquisition of Xella is expected to close in the second half of 2026.
Holcim has signed a binding agreement to acquire Xella, a European leader in sustainable and innovative walling systems, for €1.85 billion (approximately $2 billion USD).
Headquartered in Duisburg, Germany, Xella projects 2025 net sales of approximately €1 billion (about $1.1 billion USD) and operates in 21 European markets with more than 4,000 employees. The company’s portfolio includes premium brands Ytong, Silka, Hebel and Multipor, along with digitally supported construction platforms blue.sprint and Building Companion.
Holcim said the acquisition strengthens its position in the €12 billion-plus European walling market (roughly $13 billion USD) and expands its high-value Building Solutions portfolio. The company expects run-rate EBITDA synergies of €60 million (about $65 million USD) by year three.
The transaction represents a pro forma 2026 EBITDA multiple of 8.9x, or 6.9x after synergies. It is expected to be earnings per share and free cash flow accretive in year one, and return on invested capital accretive by year three.
“This strategic acquisition is a milestone in our vision to be the leading partner for sustainable construction,” said Miljan Gutovic, CEO of Holcim, noting the deal aligns with the company’s NextGen Growth 2030 strategy.
The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2026.
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