Terreal acquires German roof tile specialist Creaton
The operation expands Terreal’s international footprint and establishes it as the leading European player in the clay roof tile sector.
The Terreal group, a global leader in the brick and tile industry with plants located all over the world, has acquired Creaton, one of the largest German manufacturers of brick roofing tiles based in Wertingen, Bavaria.
The agreement is part of the French multinational’s strategic plan to expand its international footprint, positioning itself as the market leader in the European roof tile industry (ranking first or second in France, Germany, Poland and South-East Europe) and establishing an overseas presence in South Korea and the United States.
Founded in 1992 as a result of a merger between two Bavarian family-run roof tile manufacturing companies, Creaton has established itself in Germany and Eastern Europe where it enjoys a high level of brand recognition in terms of the quality of its products and services. Also renowned for its capacity for innovation, it has developed a leading platform in the roof tile segment, occupying first place in both Germany and Poland and second place in South-East Europe. The group has 1,240 employees and 7 production plants in Germany, 3 in Poland and 1 in Hungary, as well as a roofing accessories factory and 4 regional warehouses.
“The acquisition of Creaton is a highly transformative step for Terreal,” said Terreal group’s CEO Laurent Musy. “By significantly increasing the size of our company and establishing us as Europe’s largest clay roof tile producer, we will be able to continue our trajectory of profitable and sustainable growth and expand our international footprint. The acquisition stems from the hard work we have been doing in recent years, including the successful implementation of strategic projects to strengthen Terreal’s entrepreneurial and financial profile with the solid support of our shareholders. We are eagerly looking forward to future collaboration and feel certain that Creaton’s teams will easily adapt to our culture focused on operational excellence, customer proximity, openness and teamwork. We are excited about the prospect of continuing Terreal’s transformation together.”
The merger between the two dynamic companies with estimated 2020 pro-forma revenues of approximately 610 million euros will create significant operational and commercial synergies, driving sales in Italy, Benelux, Spain and other export countries thanks to a comprehensive range of innovative roofing solutions.
The acquisition is subject to approval and is expected to be completed by the end of the first quarter of 2021.