Saint-Gobain has entered into a definitive agreement to acquire OVNIVER Group, a leading privately-owned construction chemicals player in Mexico and Central America, for $815 million (approximately €740 million) in cash. Closing of the transaction is subject to customary conditions and is expected in the first half of 2025. OVNIVER Group will be consolidated into the Americas Region.

Following the acquisitions of Chryso, GCP, and FOSROC (underway), this move represents another strategic step in establishing Saint-Gobain’s worldwide presence in construction chemicals, which will have combined sales of €6.5 billion across 76 countries following the acquisition (pro forma).

OVNIVER Group is a leading construction chemicals player with a strong commercial and industrial footprint in the high-growth Mexican and Central American markets. The company is expected to generate revenues of $285 million, with a growth rate of around 20% per year on average in the last five years. With 16 manufacturing plants and around 1,000 employees, OVNIVER Group offers solutions for residential and non-residential construction markets, including façade coatings, tile adhesives, waterproofing and surface preparation mortars.

According to Saint-Gobain, the acquisition strengthens the company’s presence in the high-growth Mexican and Central American markets. OVNIVER Group’s strong positions in Mexico, Honduras, El Salvador and Guatemala complement Saint-Gobain’s existing manufacturing presence in the region. Combined with the group’s recent acquisitions of IMPAC in Mexico and Imptek in Ecuador in waterproofing, this transaction will provide a unique platform to accelerate the introduction of innovative and sustainable solutions into Mexico and Central America. OVNIVER Group is a leading player in Mexico, one of the most attractive construction markets worldwide, with growth supported by solid macroeconomic fundamentals and demographic trends, increasing adoption of advanced building solutions, and strong links with the U.S. economy, notably through nearshoring. Additionally, Saint-Gobain reports that the acquisition fully aligns with the company’s strategy to accelerate its worldwide presence in construction chemicals, supported by solid macroeconomic factors including strong urbanization and demographic trends

Benoit Bazin, chairman and chief executive officer of Saint-Gobain, commented, “The acquisition of OVNIVER Group perfectly aligns with our 'Grow & Impact' strategic plan. It is an excellent opportunity for Saint-Gobain to further reinforce its presence in construction chemicals and to strengthen its presence in high-growth markets. I am very impressed with OVNIVER Group’s leadership, strategy and outstanding growth development, as well as the team’s track record of excellent execution. The combination of the two groups will boost the rapid expansion of our profitable growth platform in construction chemicals. I look forward to warmly welcoming the OVNIVER Group teams to Saint-Gobain.”

Learn more about Saint-Gobain at www.saint-gobain.com.