Sika AG and INEOS Enterprises have signed an agreement for the acquisition of MBCC Group’s admixtures business in the United States, Canada, Europe, the United Kingdom, and its entire operations in Australia and New Zealand (Disposal Perimeter) by INEOS Enterprises. The divestment is part of the required remedy process in Sika’s acquisition of MBCC Group. The Disposal Perimeter generated net sales of around CHF 920 million by the end of 2022 and includes production sites and sales offices in 36 countries with more than 1,600 employees.

“The agreement with INEOS Enterprises marks a key milestone in Sika’s acquisition of MBCC Group,” said Thomas Hasler, CEO of Sika. “I am convinced that we have found a long-term home for the MBCC Group’s admixture business. The perfect new owner who will further develop the business together with a talented and driven MBCC Group team. At the same time, Sika has taken a tremendous leap forward on its path to joining forces with MBCC Group. Together, we will strengthen our growth platform further.”

“I am very pleased to have agreed [to] the acquisition of MBCC Group’s Admixture business,” said Ashley Reed, CEO INEOS Enterprises. “These well invested and well positioned sites present new opportunities for INEOS to grow in the construction market. We have a strong track record of manufacturing excellence, running businesses safely and reliably, and working closely with customers to meet their growth aspirations. I very much look forward to welcoming the business into INEOS.”

The completion of the transaction, as well as Sika’s acquisition of MBCC Group, are subject to regulatory approvals and expected in the first-half of 2023. Sika expects annual synergies of CHF 160-180 million following closing. The company has already received unconditional regulatory approval for the acquisition of MBCC Group in countries such as Japan, China, Brazil, South Africa, Saudi Arabia, Turkey, Thailand, and Mexico.

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