French multinational Saint-Gobain is expanding its presence in Canada with the acquisition of the Bailey Group, a Canadian manufacturer of commercial steel framing and construction systems, for $880 million.
The transaction announced Wednesday will bring 12 Canadian sites into its fold and 690 employees. The acquired assets generate revenues of approximately 500 million.
Saint-Gobain CEO Benoit Bazin stressed that the French multinational had tripled in size in three years to reach 2.3 billion in turnover, according to a report of a conference call with investors cited by ” The echoes “.
The acquisition will “strengthen Saint-Gobain’s construction materials portfolio” in Canada, the company said in a statement.
The company has made several acquisitions in Canada and the United States in recent years. In 2022, it also announced the acquisition of Kaycan, a Montreal manufacturer of aluminum and vinyl siding, for an amount of 1.1 billion.
Saint-Gobain’s North American subsidiary, CertainTeed, has 6,900 employees and 60 facilities in Canada and the United States.