LafargeHolcim Signs Agreement to Acquire Firestone Building Products from Bridgestone Americas | Financial Buzz

LafargeHolcim Signs Agreement to Acquire Firestone Building Products from Bridgestone Americas

LafargeHolcim has signed an agreement to acquire Firestone Building Products.  This acquisition pushes LafargeHolcim towards the transformation to become a global leader in innovative and sustainable building solutions.  This transaction is valued currently at USD 3.4 Billion and will be financed with a mix of cash and debt while maintaining net debt below 2x.  USD 110 Million per year is expected on a run-rate basis within two years of closing that is expected in the second quarter.  Jan Jenisch, LafargeHolcim CEO: “I am excited to be entering the highly attractive roofing business. With Firestone Building Products we are strengthening our biggest market, the US, while also building a global growth and innovation platform for the company. Today’s milestone is a strategic leap on our journey to become the global leader in innovative and sustainable building solutions, to build a world that works for people and the planet. I have great respect for the high-caliber leadership and expertise of the Firestone Building Products’ team and look forward to welcoming them into the LafargeHolcim family.”

Paolo Ferrari, Bridgestone Americas President, CEO & COO: “This transaction will create new growth opportunities for Firestone Building Products and allow Bridgestone to focus its resources to further invest in the company’s tire business and rapidly growing mobility solutions business. Like Bridgestone, LafargeHolcim is a global company with a strong financial position and thriving culture. We know they will take great care of our Firestone Building Products employees and customers, and ensure the business enjoys growth and success for many years to come.”

Taylor Cole Firestone Building Products President: “Today is a big moment for the Firestone Building Products team as we look forward to becoming part of the global leader in building materials and solutions. Together, we are in a prime position to accelerate our growth by combining Firestone Building Products’ advanced technologies and know-how with LafargeHolcim’s global scale and reach.”