Switzerland’s Holcim will take a 50.01% stake in Peruvian materials manufacturer Cementos Pacasmayo, in a deal worth approximately $1.5bn.

Cementos Pacasmayo has a $630m net sales estimate for 2025 and a 28% EBITDA margin.

The $1.5bn price tag is based upon an 8.8x multiplier on the 2025 market consensus EBITDA, or a 7.1x multiplier after run-rate synergies, estimated at $40m in the third year.

Cementos Pacasmayo was founded in 1958 and currently has 2,000 employees. It runs three cement plants with a combined capacity of around 5 million tons per year, plus 28 ready-mix and precast concrete plants. Cementos Pacasmayo operates 300 retail outlets that will complement Holcim’s Disensa franchise.

Miljan Gutovic, Holcim’s chief executive, said: “The synergistic acquisition of Cementos Pacasmayo is fully in line with our NextGen Growth 2030 strategy to accelerate growth in the attractive Latin America region.

“This is an opportunity to continue Cementos Pacasmayo’s exceptional legacy, built on its strong performance culture, its deep commitment to its people and its well regarded brand in Peru. The company is highly cash generative with a complementary portfolio in building materials as well as building solutions.”

Holcim and Cementos Pacasmayo’s deal is due to be completed in the first half of 2026 and is subject to regulatory approval.

Holcim recently entered Peru with the acquisition of manufacturers Comacsa, Mixercon and Compañía Minera Luren.