CRH plc acquiring Barrette Outdoor Living

CRH plc, the global provider of building materials solutions, has reached an agreement with TorQuest Partners and Caisse de dépôt et placement du Québec (CDPQ) to acquire Barrette Outdoor Living, Inc. 

Barette Outdoor Living is one of North America’s largest providers of residential fencing and railing solutions. 

CRH plc, based in Dublin, Ireland, is paying $1.9 billion for the acquisition.

For the year ended Jan. 1, 2022, Barrette reported profit before tax of $79 million and gross assets of $1.2 billion. 

The transaction will be financed through existing financial resources and is subject to regulatory approval. The deal is slated to close in the second half of 2022.

“Barrette is an excellent addition to CRH,”  said Albert Manifold, CEO of CRH. “Our Architectural Products business has been one of our fastest-growing businesses in recent years and the acquisition of Barrette complements and enhances our existing offering of sustainable outdoor living solutions in North America.”

Barrette operates 14 locations throughout North America, providing outdoor products sold through specialty retailers, home centers, and lumberyards. 

Earlier this year, CRH sold its Oldcastle BuildingEnvelope (OBE) business to KPS Captial Partners. The $3.45 billion cash deal is expected to close mid-2022.

CRH’s holdings in the United States include Atlanta, Ga.-based Oldcastle APG. The porfolio includes the MoistureShield, Sakrete, Belgard, and Amerimix brands, among others.