Sika has agreed to acquire a leading manufacturer of tile setting materials operating under the umbrella brand Chema in Peru. The acquisition strengthens Sika’s position in the fast-growing mortar market and provides major cross-selling opportunities through increased presence in the distribution channel. In addition, it significantly extends Sika’s manufacturing footprint. In 2022, the business to be acquired generated sales of CHF 50 million.

Misti Capital, the M&A Worldwide Partner in Petru, advised Chema in this transaction.

Chema is a family-owned, high-performing business with strong, well-established brands in the Peruvian mortar market. The company provides a wide range of tile adhesives, tile grouts, and other complementary products renowned for their high quality and ease of application. Chema has a strong presence in the distribution channel serving home centers, builders’ merchants, hardware stores, and smaller retailers. The wide, loyal customer base appreciates the efficient logistic organization and reliability of supply coupled with a top product offering. Four modern plants and seven warehouses allow nationwide manufacturing and distribution coverage.

The acquisition accelerates the development of Sika’s Building Finishing portfolio. It significantly strengthens its presence in the distribution channel in Peru, providing exciting cross-selling opportunities for complementary products such as sealants, adhesives, liquid-applied membranes, and waterproofing products. Chema’s manufacturing footprint perfectly complements that of Sika Peru. With the combined presence, Sika will have a nationwide manufacturing coverage that will enhance its ability to serve and supply customers with its products throughout the country. The transaction is subject to clearance by the local anti-trust authorities.