Product manufacturer says it has another £200m to spend on acquisitions this year
Construction product specialist SIG has acquired French roofing products distributor Lariviere for €296.6m (£202m).
The acquisition of Lariviere makes SIG the largest specialist supplier of roofing products in Europe. The company already has operations in the UK, Ireland, Germany, and Poland.
David Williams, chief executive of SIG, said: “This is a great deal for Lariviere and SIG. The combination of our existing expertise in the roofing industry and that of the number one specialist supplier in France means that we can provide our backing and support to the expansion and growth plans already well developed by the very impressive Lariviere management team.”
The move comes as SIG announces an increase in acquisition activity. The company says it expects to spend a further £200m this year. SIG’s acquisition spending was £110m in 2005 and £109m in 2006.
If approved by French competition authorities, the sale is expected to be completed in June.