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.

The 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.