Bridgestone to Sell Firestone Building Products for $3.4 Billion
Bridgestone Americas Inc. is selling its Firestone Building Products (FSBP) business for $3.4 billion to LafargeHolcim.
The 41-year-old commercial roofing and building envelope company had estimated sales of $1.8 billion in 2020. It will remain based in Nashville, Tenn.
For LafargeHolcim, the acquisition builds on its goal to be a global leader in building solutions. The purchase is expected to close in the second quarter.
Paolo Ferrari, CEO, president and chief operations officer at Bridgestone Americas, said, "This transaction will create new growth opportunities for Firestone Building Products and allow Bridgestone to focus its resources to further invest in the company’s tire business and rapidly growing mobility solutions business. Like Bridgestone, LafargeHolcim is a global company with a strong financial position and thriving culture. We know they will take great care of our Firestone Building Products employees and customers, and ensure the business enjoys growth and success for many years to come.”