Knauf acquires Armstrong overseas businesses
Knauf International GmbH (Knauf), the German building materials manufacturer, has completed its acquisition of the EMEA and Pacific Rim businesses of Armstrong World Industries, Inc.
“We are pleased to have concluded the sale of our EMEA and Pacific Rim businesses,” said Vic Grizzle, CEO of AWI. “The closing of this transaction completes our pivot to an Americas-only business focused on the significant growth opportunities available to us through our investment and innovation in mineral fiber ceilings and expanding capabilities in the architectural specialty ceiling and walls categories.”
AWI is a leading manufacturer of commercial and residential ceiling, wall and suspension system solutions.
This past April, Knauf also completed its acquisition of USG in a $7 billion deal.
The $330 million acquisition includes the WAVE joint venture in EMEA and the Pacific Rim, along with Armstrong France and WAVE France.
Knauf previously paid $250 million of the purchase price on Aug. 1, 2018 and $80 million on Sept. 15, 2018.
“We are pleased to have concluded the sale of our EMEA and Pacific Rim businesses,” said Vic Grizzle, CEO of AWI. “The closing of this transaction completes our pivot to an Americas-only business focused on the significant growth opportunities available to us through our investment and innovation in mineral fiber ceilings and expanding capabilities in the architectural specialty ceiling and walls categories.”
AWI is a leading manufacturer of commercial and residential ceiling, wall and suspension system solutions.
This past April, Knauf also completed its acquisition of USG in a $7 billion deal.