Parex Integration Completed and Many More Success Stories
I would like to congratulate everyone involved in the successful integration of Parex. After we closed the acquisition in May 2019, the integration is now officially completed. There are 23 countries with fully integrated teams that are working together to achieve great results.
We have exceeded our synergy guidance and delivered CHF 55 million annual synergies in 2020. The integration of nine brands is completed and 22 brands are with dual branding in the brand transitioning process and will be fully integrated in two to four years. We are preparing for further acquisitions and our teams are ready for the next major acquisition.
With Parex we have proved that we can do a fantastic job – let’s do it again!
Parex integration sucessfully completed:
"The process of integrating Parex into Sika has been a very exciting journey, and has left a lasting change in Sika. Not only have we created a new Target Market, that is now the largest TM in Construction. Many of the success criteria and best practices from Parex have been adapted and make up the foundation of this new Target Market. In addition, thanks to Parex’s strength in tile adhesives, our position in Distribution, in particular in the Floor Covering Category has been significantly strengthened. Lastly, the learnings from this integration process is already helping us in other acquisition efforts, and I am sure will continue to do so in the future." Philippe Jost, Head Construction