Knauf Australia Reaches Agreement to fully Acquire USG Boral in Australia and Asia
Posted on 18-04-2021
An agreement has been reached between Knauf Australia and Boral for Knauf to acquire the remaining 50% of the share capital of USG Boral business in Australia and Asia. USG Boral is well-established as a leading manufacturer and supplier of advanced building materials in India, Malaysia, the Philippines and Singapore, and this acquisition will create the world’s largest gypsum company. The merge of the two customer-centric companies with well aligned and complementary product portfolios will create a global building materials industry leader, ready to expand its position and global footprint in a dynamic, fast-growing market.
According to Alexander Knauf, Managing Partner of Knauf, the transaction was the largest acquisition in Knauf’s history and offers a wealth of opportunities to create a stronger, more sustainable company for Knauf employees, customers and the communities it serves.
He expressed admiration for USG’s strong brands, leading market positions in North American wallboard and ceilings, and highly talented employee base and added that Knauf was excited to welcome USG employees to the Knauf family and looked forward to working together to accelerate growth and profitability and even better serve their customers.