With the acquisition, Sika will further expand its geographical footprint in Canada and improve its growth potential in various markets, including mining and tunnelling. The acquired business generates annual sales of CHF 61 million (US$ 60.3 million) with a workforce of 180 employees. Closing of the transaction is expected to take place in the June 2019 quarter.
King is a family-owned business and a well-established 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 company has an excellent reputation for its recognised brands, its high quality and reliable product solutions, and its strong technical sales expertise. King operates three large state-of-the-art plants, two of which are located at Boisbriand, Quebec, close to Montreal, and at Brantford, Ontario, near Toronto, which are the most populated regions in Canada with dynamic construction activities. Another plant is situated in Sudbury, Northern Ontario, close to the mining industry.
Christoph Ganz, regional manager, Americas at Sika, said: "With the acquisition of King and its broad and highly complementary product offering we will further strengthen our presence in Canada and open up exciting new cross-selling opportunities. Especially in the home improvement market and in the growing tunnelling and mining market segments, the acquisition of King Packaged Materials will make Sika one of the leading suppliers of concrete solutions in Canada. We look forward to a successful joint future and would like to extend a very warm welcome to all King employees as they join the Sika team."
