On May 31, 2022, Saint-Gobain S.A. (“Saint-Gobain”) announced that it has entered into a definitive agreement pursuant to which an affiliate of Saint-Gobain will acquire Kaycan, Ltd. (“Kaycan”), a family-owned manufacturer and distributor of exterior building materials in Canada and in the United States for US$928 million in cash. Closing of the transaction is subject to antitrust approvals and satisfaction of other customary closing conditions. The transaction is expected to close by year-end 2022.
With this acquisition, Saint-Gobain will reinforce its worldwide leadership in light and sustainable construction by becoming the top siding player in Canada and enlarging its vinyl offer across the United States with complementary solutions including notably aluminum and engineered wood.
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets.
Miller Thomson is advising Saint-Gobain on the Canadian side of the deal, with a team led by Lisa Goodfellow (Labour & Employment) and Max Spearn (Corporate/M&A) and including Adam Bata, Sarah DeGenova, Christopher Fallis and Wuraola Dasylva (Corporate/M&A); Tamara Farber, Adina Georgescu, and Cassandra Modafferi (Environmental); Hugh Wright, Michael Cleveland, and Helder Santos Vieira (Pensions, Labour & Employment); Ron Choudhury and Colleen Ma (Tax); Stuart Chaimberg (Real Estate); Karen Durell (IP); as well as Eric Dufour and Reema Mahbubani (Antitrust/Competition).
Cleary Gottlieb Steen & Hamilton LLP and Littler Mendelson P.C. act as U.S. counsel to Saint-Gobain and Stikeman Elliott LLP acts for Kaycan in the ongoing transaction.