Sika completes acquisition of Parex
Sika has completed the acquisition of Parex on 23.05.2019. The deal was announced on 08.01.2019. With annual sales of CHF 1.2 billion, Parex is a leading mortar manufacturer with an impressive track record of profitable growth and attractive margins. Sika and Parex are two strong companies that are highly complementary in product offering and channel penetration. With this acquisition, Sika will expand its product portfolio for the building finishing market, further strengthening its world leader position in construction chemicals, and reaching sales in excess of CHF 8 billion for 2019.
Parex’ product offering includes facade mortars, tile adhesives, and waterproofing mortars. With its expertise in mortar solutions for renovation and new builds, Parex participates in all phases of the construction life cycle. Parex has a particularly strong presence in distribution channels, especially in China, where Parex has built up a network of over 90000 points of sale. With its strong, recognized brands, Parex is known for its comprehensive R&D expertise and technical excellence. The company is locally present in 23 countries, with key positions in eight core markets, and operates 74 plants around the world.
The acquisition of Parex will strengthen Sika’s growth platform. Its mortar business, which is a key growth technology for the group and one of its important earning contributors, will more than double in size to CHF 2.3 billion. Parex’s strong position in distribution channels will open up new business opportunities for Sika’s product range. Parex will gain access to Sika’s well-established direct sales channels, and Parex’s expertise in the facade and tile setting business will allow Sika to participate in these growing and attractive market fields.
