Holcim expands sustainable portfolio with €1.85bn acquisition
21 October 2025
Holcim has signed a binding agreement to acquire Xella, a European provider of sustainable walling systems, in a deal valued at €1.8 billion
Photo: Xella
Based in Duisburg, Germany, Xella has around 4,000 employees and operates in 21 European markets. The company’s portfolio includes Ytong, Silka, Hebel, and Multipor, and it also develops digital construction tools such as blue.sprint and Building Companion.
Xella’s projected 2025 net sales are around €1 billion.
According to Holcim, the acquisition is expected to generate run-rate EBITDA synergies of €60 million by the third year and be earnings per share and free cash flow accretive in the first year.
The deal implies a pro forma 2026 EBITDA multiple of 8.9x, or 6.9x after synergies, and is expected to be return on invested capital (ROIC) accretive in year three.
Holcim said the transaction is part of its NextGen Growth 2030 strategy and is aimed at expanding its position in the sustainable building materials market.
Miljan Gutovic, Holcim CEO, said, “This strategic acquisition is a milestone in our vision to be the leading partner for sustainable construction, accelerating Holcim’s high-value Building Solutions in line with our NextGen Growth 2030 strategy.
“Xella will add to our customer offering in the highly attractive €12 billion+ walling market, with cross-selling and systems-selling opportunities. I look forward to welcoming Xella’s 4,000 employees.”
The transaction is subject to customary closing conditions and regulatory approvals and is expected to complete in the second half of 2026.
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