DAVY VIEW

Holcim’s pivot to solutions and products continues with its deal to acquire PRB Group in France. As an existing business partner and with obvious product and market overlap, PRB appears a good fit. Recent sales performance has been impressive, with sales growing from c.€200m in 2017 to c.€340m in 2022 (as with the Malarkey deal, sales figures are provided for the forecast year ahead). The deal is consistent with management’s aim to expand its solutions and products business to 30% of group net sales by 2025. That has gained real momentum in the last year, with the acquisitions of Firestone, Malarkey and now PRB.