SAO PAULO—Saint-Gobain S.A. is expanding in the Brazilian adhesives market.
The firm has signed a share purchase agreement to secure all of the equity capital of TekBond, which, according to Saint-Gobain, is the No. 2 adhesives business in Brazil with a focus in the construction sector and the automotive aftermarket.
The deal is subject to approval of Brazilian antitrust authorities.
TekBond supplies the country with a variety of adhesives, sealants, sprays and masking tapes, including silicone- and polyurethane-based products. The firm will join Saint-Gobain's High Performance Materials business activity, enabling the firm to create synergies with its abrasives, mortars and flat glass business lines on the construction and industrial markets.
Saint-Gobain employs more than 170,000 and operates in 67 countries with 2016 sales of $45.5 billion.