Wienerberger to acquire part of Terreal’s business for €600 million
After acquiring Terreal’s businesses located in France, Italy, Germany, Spain and the USA, the Austrian building materials giant will become Europe’s leading provider of sustainable roofing solutions.
The Austrian building materials giant Wienerberger has announced that it has signed an agreement to acquire the Terreal businesses located in Italy, France, Spain and the USA. Founded in Suresnes, France more than 150 years ago, Terreal is one of Europe’s leading suppliers of innovative roofing and solar solutions. The €600 million deal also includes the German and Benelux businesses of Creaton, a company acquired by Terreal in 2020, while the production facilities in Austria, Poland and Hungary will continue to be owned by the current shareholders.
The Terreal businesses to be acquired by Wienerberger employ almost 3,000 people and operate 29 cutting-edge manufacturing sites (including the research and development centre in Castelnaudary) and generated revenue of approximately €740 million in 2022. The businesses also have a very positive EBITDA of approximately €100 million, which the Austrian group expects to increase to €150 million within three years. The investment is especially strategic in anticipation of the new European environmental projects on the energy efficiency of buildings. Terreal operates in Italy under the San Marco and Pica brands. It has three production facilities and offers a wide range of innovative roofing and façade solutions throughout the country
A significant step in Wienerberger’s value-driven growth strategy
The Terreal portfolio is a perfect fit for Wienerberger’s own product range and has unique growth opportunities in the European renovation sector, which offers enormous development potential due to the ageing building stock, particularly in the roof segment. Terreal also offers solutions for solar energy generation and water management.
“According to our projections, the acquisition of Terreal will double our roofing sales to 75 million m2 annually, establishing us as Europe’s largest pitched roof expert integrating solar and rainwater solutions,” commented Heimo Scheuch, Chairman and CEO of Wienerberger. “At the same time, our shared focus on sustainability, innovative solutions and digital business models will lead to the reduction of 225,000 tons of CO2 emissions annually, while allowing us to reach our ESG goals more rapidly.”
“In recent years, Terreal has implemented a successful sustainable growth strategy aimed at decarbonising our industry,” added Laurent Musy, CEO of the Terreal Group. “At a time of unprecedented challenges and spiralling energy prices, joining forces with Wienerberger will allow us to accelerate our existing roadmap.”
The transaction is expected to close in 2023 subject to final approval from the antitrust authorities. Until then, Terreal will continue to run its business separately.
Did you find this article useful?
Join the CWW community to receive the most important news from the global ceramic industry every two weeks