Polycor Acquiring All of ROCAMAT
PARIS – Polycor will acquire full ownership of ROCAMAT, France’s leading producer of natural stone.
The deal – subject to various approvals in France – comes five years after Quebec City-based Polycor entered a minority-share partnership with the French stone producer. Founded in 1857, ROCAMAT owns close to 30 limestone quarries in France, operates four processing plants, and employs nearly 160 people.
Terms of the transaction, announced on Feb. 27, weren’t disclosed.
The shareholders of the ROCAMAT Group, — Pierre Brousse, Jean- Louis Marpillat, and Franck Rouyer — agreed to offer the opportunity to acquire the company. Polycor France Holding, a subsidiary of the Polycor Group, signed a preliminary offer to acquire 100% of the outstanding shares of ROCAMAT SA.
The acquisition is part of Polycor’s strategy to consolidate its position as a natural-stone industry leader and strengthen its presence in Europe and internationally. In 2018, Polycor France partnered with ROCAMAT by becoming one of its minority shareholders and taking over operations at five quarries in Burgundy (the Chassagne, Massangis, and Rocherons sites), as well as taking over the quarrying rights at the Lens quarry located in the Gard region.
“This acquisition project is a natural step for Polycor’s growth,” said Patrick Perus, Polycor CEO. “Since its foundation in 1987, and by establishing a long-term vision, we have built alliances with companies that share our values. ROCAMAT’s heritage counts over 170 years of expertise, in addition to a knowledge and mastery of natural stone that is unmatched in France.
“This industry flagship is the perfect ally for the future of sustainable construction materials. The acquisition of ROCAMAT would allow us to enrich our offering by proposing an even more comprehensive portfolio of products that meet unparalleled standards of quality.”
Stone extracted from ROCAMAT’s quarries and processed in its factories into stone blocks and slabs, flooring and facades, marble work, and cut and carved elements, are sold on the construction market.
Pierre Brousse, ROCAMAT’s majority shareholder, stated: “Our family group has had a stake in ROCAMAT for nearly eight years,” said Pierre Brousse, ROCAMAT’s majority shareholder. “During this time, we restructured the company around its historical economic model.
“The outlooks for the natural stone market in France call for high-capacity industrial investments. We consider it wise to entrust such execution to the world leader in ornamental stone, which, I am confident, will know better than anyone how to develop the company’s capabilities.”
Jean-Louis Marpillat, ROCAMAT president, said that, “following a turnaround phase, ROCAMAT can now enter a development phase by seizing the opportunities that the natural and ‘green’ materials market is now opening.
“In order to tackle this new area of development, ROCAMAT is pleased to be backed by a major group within the industry that is capable of financially ensuring the achievement of these new challenges.”
In accordance with the French regulations, the acquisition remains subject to the information- consultation process of the representative bodies of ROCAMAT’s personnel. A detailed presentation with these representative bodies shall be discussed in detail on March 6. The contemplated transaction is also subject to other suspensive conditions and in particular to the authorization of the Tribunal de Commerce de Bobigny.
