Strategic move in the European construction sector
Holcim has signed a binding agreement to acquire the European Xella Group. The company, with brands such as Ytong, Silka, Hebel and Multipor, employs over 4,000 people in 21 markets and generates annual sales of around one billion euros. The acquisition is intended to expand Holcim's growth-orientated Building Solutions division and significantly strengthen its position as a provider of sustainable building systems.
With the integration, Holcim is expanding its product portfolio to include energy-efficient and circular transformation solutions in a European market with a volume of over 12 billion euros. The move contributes to the strategic initiative “NextGen Growth 2030”, which is focussed on high-margin business areas beyond the traditional cement business.
In particular, the range of mineral lightweight and aerated concrete products as well as digital platforms such as blue.sprint and Building Companion are intended to strengthen system sales and the interaction between building materials, precast elements and digital planning tools. This will create an integrated value creation model that focuses on efficiency, sustainability and planning reliability.
Financial perspective of the transaction
The purchase price is EUR 1.85 billion. This corresponds to a pro forma EBITDA multiple for 2026 of around 8.9 and 6.9, respectively, after planned synergies of 60 million euros in the third year. A positive contribution to earnings per share and free cash flow is already expected in the first year after completion. The return on capital is expected to increase from the third year onwards.
The acquisition is still subject to regulatory approvals and is expected to be completed in the second half of 2026. Holcim emphasises that the transaction is part of a disciplined capital strategy that combines sustainable growth with financial stability.
Significance for the structure of the construction industry
The move puts prefabricated building systems and modular solutions more at the centre of industrial value creation. Holcim is thus responding to the continuing demand for resource-efficient and climate-friendly construction in Europe, as well as to increasing regulatory requirements in building technology and energy efficiency.
The combination of building materials expertise, advanced production and digital engineering is pushing the boundaries of traditional materials industries. For the European construction sector, this takeover could become a driving force towards more networked, industrialised construction processes.