Sika AG announced it has agreed to acquire King Packaged Materials Company, an independent Canadian manufacturer of dry shotcrete and mortars for concrete repair. Sika said, with the acquisition, it will further expand geographical footprint in Canada and improve growth potential in the home improvement, construction, mining and tunneling markets.
King is a family owned business and a manufacturer of products for the construction and mining industry as well as for the home improvement distribution channel. The portfolio includes shotcrete solutions, grouts, and repair and masonry mortars.
The acquired business generated annual sales of CHF 61 million. Closing of the transaction is expected to take place in the second quarter 2019.
Source: RTT News
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