Sika has agreed to acquire Kreps LLC, a leading mortar manufacturer in Russia. The company offers a wide range of mortar products for interior and exterior finishing, complementing the existing portfolio and geographical footprint. The acquired business generates annual sales of CHF15m (US$16.8m). The transaction is subject to clearance by the local anti-trust authorities.
Kreps operates production plants in Saint Petersburg and Yekaterinburg, two geographical areas where Sika has not previously had its own mortar manufacturing. The two modern plants manufacture a wide range of mortars, mainly tile adhesives, plasters, and floor leveling compounds. The facilities of Kreps also include a professional training center and well-equipped production laboratories.
Ivo Schädler, regional manager EMEA, said: “Kreps provides a wide product portfolio and extended geographical footprint for mortars in the Russian Federation. Together with the enhanced access to the distribution channel, it gives us a platform to further grow and strengthen our position in this market. We warmly welcome the Kreps employees to the Sika team and look forward to a successful joint future.”
