PARIS (June 8, 12:25 p.m. ET) – Construction products supplier Cie. de Saint-Gobain has signed an agreement to acquire Celotex Group Ltd, a Hadleigh, England-based supplier of polyisocyanurate insulation.
Terms were not disclosed. Celotex posted 2011 sales of 69.7 million pounds sterling ($107.5 million, and has 170 employees and two production lines.
Paris-based Saint-Gobain said in a June 8 news release that the acquisition strengthens its position in the new construction and renovation markets, and enhances its offerings in new segments such as flat roofs and floors.
Celotex will continue to operate under its brand name and with its existing management team, the companies said.