On June 12, 2023, Saint-Gobain, a leader in sustainable construction, acquired Building Products of Canada Corp., a Canadian manufacturer of roofing shingles and insulation panels, for C$1.325 million (€925 million). This acquisition expands Saint-Gobain's Canadian presence, adding to its portfolio of exterior solutions, including products from its recent acquisitions of Kaycan and GCP in 2022. Building Products of Canada, with three manufacturing plants and 460 employees, specializes in asphalt shingle roofing and offers a range of exterior products.

The transaction, valued at about 11.9x Building Products of Canada's 2022 EBITDA of C$111 million (8.2x including synergies), aligns with Saint-Gobain's "Grow & Impact" plan, aimed at strengthening its North American leadership and maintaining a strong balance sheet. The deal is expected to close by year-end 2023.

Strategically, this acquisition enhances Saint-Gobain's product range in light and sustainable construction solutions in Canada. It is projected to create value by the third year post-closing and be earnings accretive from the first year. Significant synergies, estimated at C$50 million by the third year, are expected from cost and sales optimizations.

Advising Saint-Gobain on the deal were RBC Capital Markets, LLC, Cleary Gottlieb Steen & Hamilton LLP, and Blake, Cassels & Graydon LLP. Building Products of Canada was advised by Deloitte Corporate Finance Inc. and McCarthy Tétrault LLP.