Holcim to acquire Xella

Miljan Gutovic, Holcim CEO: “This strategic acquisition is a milestone in our vision to be the leading partner for sustainable construction, accelerating Holcim’s high-value Building Solutions in line with our NextGen Growth 2030 strategy. Xella will add to our customer offering in the highly attractive EUR 12 billion+ walling market, with cross-selling and systems-selling opportunities. I look forward to welcoming Xella’s 4,000 employees.”

The transaction value of EUR 1.85 billion represents a pro forma 2026 EBITDA multiple of 8.9x, or 6.9x after run-rate synergies of EUR 60 million realized in year three. It is earnings per share (EPS) and free cash flow accretive in year one and return on invested capital (ROIC) accretive in year three.

The transaction is in line with Holcim’s commitment to financial discipline and growth-focused capital allocation. It is subject to customary conditions and regulatory clearances, and expected to close in H2 2026.

Further information on the transaction is available here:
https://www.holcim.com/sites/holcim/files/docs/20251020-acquisition-xella-presentation-en.pdf

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