Saint-Gobain acquires the Canadian group Bailey for 600 million euros

“This is an important acquisition”, with a “major player in the field of metal frames”, which “benefits from a very good reputation”, welcomed Benoit Bazin, general manager of Saint-Gobain, during a telephone press conference on Tuesday, specifying that this acquisition would be financed “entirely in cash”.

The acquisition of Bailey, which has 12 factories in Canada and will have a turnover of 532 million Canadian dollars in 2023, allows the French company to continue its expansion strategy in North America, and particularly in Canada.

Saint-Gobain will thus have “tripled in size in three years, to reach 2,3 billion Canadian dollars” in turnover in Canada, rejoiced Benoit Bazin.

While in Europe, the group's figures are penalized by a declining market in new construction, activity in Canada "is driven by an underlying need for housing, strong support from the government to build more and quickly to respond to record demographic growth", insists Benoit Bazin.

Saint-Gobain's growth prospects across the Atlantic, and more generally outside of Europe, allow the company to meet its geographic diversification objectives.

Initially planned for 2025, the objective of reaching the threshold of 55% of the company's turnover in Europe "has already been achieved in 2023", explains Benoit Bazin.