Holcim to acquire a majority stake in Cementos Pacasmayo in Peru
Holcim announced a strategic acquisition of a majority stake in Cementos Pacasmayo, a leading cement and building materials producer in Peru. Pacasmayo operates the 3 cement plants Piura, Pacasmayo (photo) and Roija with a capacity of 4.9 Mta, as well as 28 ready-mix and precast concrete plants. The company offers high-value building solutions in addition to building materials, has developed AI platforms for customer engagement and back-office efficiency, and operates over 300 retail stores that complement Holcim’s Disensa, the leading construction materials and solutions franchise network in Latin America. In 2025, Cementos Pacasmayo became the first company in Peru to obtain an Environmental Product Declaration from the GlobalEPD Cement Program verified by AENOR, the Spanish Association for Standardization and Certification.
Fig. 1 Pacasmayo cement plant (Cementos Pacasmayo)
Holcim is acquiring a majority stake in Cementos Pacasmayo. The transaction value of approximately USD 1.5 billion on a 100% basis implies an 8.8x multiple on 2025 market consensus EBITDA, corresponding to 7.1x after expected run-rate synergies of around USD 40 million realized in the third year. A return on invested capital (ROIC) is anticipated to also be in year three. The transaction is in line with Holcim's commitment to financial discipline and growth-focused capital allocation and is subject to customary conditions and regulatory approval. It is expected to close in H1 2026. The acquisition is fully in line with Holcim's NextGen Growth 2030 strategy, expected to deliver run-rate EBITDA synergies of around USD 40 m in year three.
Holcim achieved in the first 9 months of 2025 about 30.8%, corresponding to 2291 CHF million, of its net sales and CHF 771 million of its recurring EBIT in Latin America. In 3Q. 2025 in Latin America 27.9% of the net sales were achieved in Latin America, corresponding to CHF 769 million. The acquisition of Cementos Pacasmayo comes a year after Holcim entered Peru, acquiring Comacsa, a producer of cement and industrial minerals, Mixercon, a producer of cement and ready-mix concrete, and Compañía Minera Luren, a producer of walling solutions. Accordingly, the synergistic acquisition of Pacasmayo will expand Holcim’s presence in the country and accelerate growth in the attractive region of Latin America, in line with its NextGen Growth 2030 strategy.
Miljan Gutovic, CEO of Holcim: “The synergistic acquisition of Cementos Pacasmayo is fully in line with our NextGen Growth 2030 strategy to accelerate growth in the attractive Latin America region. This is an opportunity to continue Cementos Pacasmayo’s exceptional legacy, built on its strong performance culture, its deep commitment to its people and its well-regarded brand in Peru. The company is highly cash generative with a complementary portfolio in building materials as well as building solutions. I look forward to welcoming Pacasmayo's 2000 employees to Holcim and to accelerating growth together.”
https://www.holcim.com/media/media-releases/holcim-to-acquire-majority-stake-cementos-pacasmayo
