Sika has agreed to acquire King Packaged Materials Company
Sika has agreed to acquire King Packaged Materials Company, a large independent Canadian manufacturer of dry shotcrete, mortars and concrete solutions. With the acquisition Sika will further expand its geographical footprint in Canada and improve its growth potential in the home improvement, construction and mining and tunneling markets. The acquired business generates annual sales of CHF 61 million (CAD 81 million) with a workforce of 180 employees.
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 recognized brands, its high quality and reliable product solutions, and its strong technical sales expertise. King operates three large state‐of‐the-art plants, one located in Boisbriand (QC), close to Montreal, one in Brantford (ON), near Toronto, which are the most populated regions in Canada with dynamic construction activities and the third one in the heart of Ontario’s mining country, in Sudbury.
Christoph Ganz, Regional Manager Americas: “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 tunneling and mining market segments, the acquisition of King Packaged Materials will make Sika Canada one of the leading suppliers of concrete solutions. 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.”
Richard Aubertin, President of Sika Canada Inc.: “The acquisition of King Packaged Materials will improve our presence and penetration on several market segments thanks to an increased production capacity of cement‐based materials in Central and Eastern Canada. The complementarity of the product lines, on markets with high growth potential, such as home improvement, tunnelling and mining, will make Sika Canada one of the leading suppliers of construction solutions in the country.”
The owners of King Packaged Materials Company, the Hutter and Macpherson families, strongly believe that Sika is the ideal partner to continue the growth of King products in all of their market sectors. They look forward to the joint business and sales activities which offer great potential to expand the product portfolio across Canada and internationally.