Swizerland-based Sika has completed the acquisition of Chema, a prominent manufacturer of tile-setting materials in Peru.
The deal was announced in August last year.
This strategic move enhances Sika’s standing in the rapidly growing mortar sector, providing valuable cross-selling opportunities through a broader distribution network and a complementary manufacturing base.
Established more than 50 years ago, Chema boasts a strong foothold in the market, offering a wide array of tile-setting materials.
The company claimed that its customer base ‘appreciates’ its effective logistics and dependable supply.
Chema operates four factories and seven warehouses, ensuring manufacturing and distribution coverage across Peru.
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By GlobalDataThe deal is expected to enlarge Sika’s Building Finishing portfolio.
Sika is a speciality chemicals company, developing and producing systems and products for bonding, sealing, damping, reinforcing, and protection within the construction sector.
With a workforce of 34,000, Sika reported sales of SFr11.2bn ($12.83bn) in 2023.
In August this year, the company announced its acquisition of Vinaldom, a supplier of concrete construction products in the Dominican Republic.
