(PRESS RELEASE) BAAR, 2-Mar-2022 — /EuropaWire/ — Sika (SWX: SIKA), a Swiss multinational specialty chemical company, has announced the acquisition of a manufacturer of cementitious products and mortars in Canada. The acquisition of Sable Marco Inc., based in Pont Rouge, near Québec City, will open up new opportunities for Sika in the Eastern region of Canada and will clearly improve Sika’s access to the retail distribution channel in the country. The acquired business generates annual sales of CHF 20 million.
Sable Marco has built up a strong presence in the distribution channel and an excellent relationship with major national and regional building material stores and DYI retail chains. The customer base is highly complementary to Sika and the acquisition will enable the development of relationships with new high-potential customers. Sable Marco operates one plant in the area of Québec City offering logistic and strategic benefits for Sika Canada. This location will allow Sika to expand the reach and better serve customers in the Eastern part of the country. The product range of Sable Marco includes cementitious products, mortars, polymeric sand, and other bagged materials. Synergies will be generated by exploring cross-selling potential for Sika’s Target Markets Waterproofing and Building Finishing through additional channels, improved geographical access, as well as from the opportunities opening up in the growing polymeric sand category.
“With the acquisition of Sable Marco, Sika Canada will expand its penetration with big boxes, home centers, and builders’ merchants which, in line with our strategic plan, will increase sales being generated through the distribution channel. We warmly welcome the Sable Marco employees to the Sika family and look forward to successfully developing our business together in the Canadian market,” commented Christoph Ganz, Regional Manager Americas.
SIKA AG CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 300 factories. Its more than 27,000 employees generated annual sales of CHF 9.3 billion in 2021.
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SOURCE: SIKA AG