Germany: Switzerland-based Holcim has concluded a deal to acquire Xella for €1.85bn. Xella produces various building materials, including Multipor insulation. Holcim anticipates earnings before interest, taxation, depreciation and amortisation (EBITDA) synergies of €60m within three years of the acquisition.
Holcim CEO Miljan Gutovic said "This strategic acquisition is a milestone in our vision to be the leading partner for sustainable construction, accelerating Holcim's Building Solutions in line with our NextGen Growth 2030 strategy. Xella will add to our customer offering in the highly attractive €12bn+ walling market, with cross-selling and systems-selling opportunities."
Holcim to acquire Xella
