Compagnie de Saint-Gobain Acquisition (9182R)

TIDMCOD

RNS Number : 9182R

Compagnie de Saint-Gobain

10 November 2021

PRESS RELEASE

November 10, 2021

SAINT-GOBAIN acquires a minority stake in livspace, a digital company

focused on the growing residential markets in India and South-East Asia

Saint-Gobain has acquired a minority stake in Livspace, a digital-first company that is rapidly growing in India and South-East Asia.

Livspace is a digital-first intermediation platform offering end-to-end solutions for home interiors, from design to installation. Founded in 2015, Livspace is a market leader in India and has grown its business rapidly by deploying significant investments in technology, marketing and end-to-end solutions. Today, Livspace serves around 20,000 homes annually in India and is poised to grow rapidly in the future.

This investment will complement the Group's full range of solutions on the residential market in India which accounts for over 80% of the country's building construction market.

B. Santhanam, CEO Asia-Pacific of Saint-Gobain, commented:

"I am very pleased to partner with Livspace. Over the last two years, our businesses have focused on developing an innovative approach for the home segment by offering its customers end-to-end solutions (design to installation). This partnership is a win-win for both companies, aiding a faster scale-up and expanded customer reach. Livspace offers a complementary route to market, promoting solutions under the Saint-Gobain brand. We will derive significant synergies and learnings in terms of customer behavior, technology platform, services and supply chain."

ABOUT SAINT-GOBAIN

Saint-Gobain designs, manufactures and distributes materials and solutions for the construction, mobility, healthcare and other industrial application markets. Developed through a continuous innovation process, they can be found everywhere in our living places and daily life, providing wellbeing, performance and safety, while addressing the challenges of sustainable construction, resource efficiency and the fight against climate change. This strategy of responsible growth is guided by the Saint-Gobain purpose, "MAKING THE WORLD A BETTER HOME", which responds to the shared ambition of all the women and men in the Group to act every day to make the world a more beautiful and sustainable place to live in.

EUR38.1 billion in sales in 2020

More than 167,000 employees, located in 70 countries

Committed to achieving Carbon Neutrality by 2050

For more information about Saint-Gobain

visit www.saint-gobain.com and follow us on Twitter @saintgobain

 
 
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November 10, 2021 02:12 ET (07:12 GMT)