Saint-Gobain announces that it has completed the acquisition of CSR Limited (“CSR”), establishing a strong presence in the attractive Australian construction market.
CSR is a leading player in building materials in Australia, consisting principally of Building Products (A$1.9 billion in sales and an EBITDA margin of c.18% for the fiscal year ending March 31, 2024), with some of Australia’s most trusted and iconic brands. The acquisition fits extremely well with Saint-Gobain’s worldwide offer on light and sustainable construction.
Benoit Bazin, Chairman and Chief Executive Officer of Saint-Gobain, commented: “We are delighted with the timely completion of this major transaction in Australia’s attractive high-growth construction market which is underpinned by solid macroeconomic fundamentals. The acquisition will strengthen our presence in the fast-growing Asia-Pacific markets and is fully aligned with our “Grow & Impact” strategy and our worldwide leadership in light and sustainable construction. We see a tremendous opportunity to build on CSR’s strengths to further accelerate its growth in the region. I am very impressed by the CSR teams’ expertise, know-how, and commitment at every level. It is truly a great pleasure to officially welcome them all into Saint-Gobain.”
Following the delisting of CSR on completion of the transaction, Julie Coates has decided to step away from her role as Managing Director and Chief Executive Officer. Julie will continue to serve as a member of the newly established CSR board to ensure a smooth and successful transition. Saint-Gobain is pleased to announce that Paul Dalton, currently CSR Executive General Manager, Interior Systems, will be appointed Chief Executive Officer at the time of delisting.
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets.
