Sika has agreed to acquire Kreps LLC, a leading mortar manufacturer in Russia. The company offers a wide range of mortar products for interior and exterior finishing, complementing the existing portfolio and geographical footprint. The acquired business generates annual sales of CHF 15 million. The transaction is subject to clearance by the local anti-trust authorities.
Kreps is a well-known local brand with a strong presence in the distribution channels, providing Sika with improved access to major home centers and builders’ merchants. The combination of Sika’s technical know-how and direct sales approach with Kreps' developed distribution network and production base will enable Sika to expand the local supply chain and better penetrate the market.
Kreps operates production plants in Saint Petersburg and Yekaterinburg, two geographical areas where Sika has not previously had its own mortar manufacturing. The two modern plants manufacture a wide range of mortars, mainly tile adhesives, plasters, and floor leveling compounds. The facilities of Kreps also include a professional training center and well-equipped production laboratories.
"Kreps provides a wide product portfolio and extended geographical footprint for mortars in the Russian Federation. Together with the enhanced access to the distribution channel, it gives us a platform to further grow and strengthen our position in this market. We warmly welcome the Kreps employees to the Sika team and look forward to a successful joint future." Ivo Schädler, Regional Manager EMEA