CRH buys fencing producer for $1.9 bln in biggest deal since 2018
03/06/2022 08:04
DUBLIN, June 3 (Reuters) - Irish building materials firm CRH
CRH.L CRH.I said on Friday it had agreed to buy Barrette
Outdoor Living, North America's leading provider of residential
fencing and railing solutions, for an enterprise value of $1.9
billion.
The acquisition follows the $3.8 billion sale by CRH this
year of its U.S.-based glass product manufacturing unit. It said
the deal for Ohio-based Barrette represented an acquisition
multiple of about 10 times core earnings, pre-synergies.
CRH, the world's second-largest building materials supplier,
has concentrated on smaller, bolt on acquisitions since it
bought U.S.-based Ash Grove Cement for $3.5 billion in 2018.
(Reporting by Padraic Halpin; Editing by Edmund Blair)
((padraic.halpin@thomsonreuters.com; +353 1 500 1504; Reuters
Messaging: padraic.halpin.thomsonreuters.com@reuters.net))