King Packaged Materials Company generates annual sales of CA$81m (£46m) with a workforce of 180 employees.
Sika sees the acquisition as further expanding its geographical footprint in Canada and improving its growth potential in the home improvement, construction, mining and tunnelling markets.
King is a family-owned business that operates three large plants. One is located near Montreal, another is near to Toronto and the third is in the heart of Ontario’s mining country, in Sudbury.
Sika regional manager Americas Christoph Ganz said: “With the acquisition of King and its broad and highly complementary product offering we will further strengthen our presence in Canada and open up exciting new cross-selling opportunities. Especially in the home improvement market and in the growing tunnel;ing and mining market segments, the acquisition of King Packaged Materials will make Sika Canada one of the leading suppliers of concrete solutions.”
The owners of King Packaged Materials Company, the Hutter and Macpherson families, said that they look forward to the joint business and sales activities, which they see as offering great potential to expand the product portfolio across Canada and internationally.