Holcim Acquires Cementos Pacasmayo for €1.5 Billion

Holcim is acquiring a majority stake in Cementos Pacasmayo for approximately €1.5 billion, strengthening its presence in Latin America's building materials market.

Holcim is acquiring a majority stake in Cementos Pacasmayo, a leading Peruvian building materials producer. The transaction values the company at approximately €1.5 billion on a 100% basis.

Cementos Pacasmayo is projected to generate €630 million in net sales in 2025 with a 28% EBITDA margin. The acquisition strengthens Holcim’s presence in Latin America and aligns with its NextGen Growth 2030 strategy.

Founded 67 years ago, Cementos Pacasmayo operates three cement plants with combined capacity of 5 million tons annually. Additionally, the company runs 28 ready-mix and precast concrete plants and over 300 DINO retail stores.

The company is listed on both the Lima Stock Exchange and New York Stock Exchange. It employs approximately 2,000 people.

“This is an opportunity to continue Cementos Pacasmayo’s exceptional legacy, built on its strong performance culture and well regarded brand in Peru,” said Miljan Gutovic, Holcim CEO.

The transaction implies an 8.8x multiple on 2025 market consensus EBITDA. However, that drops to 7.1x after expected run-rate synergies of around €40 million realized in year three.

The deal is expected to be earnings per share and free cash flow accretive in year one. Furthermore, it should be return on invested capital accretive in year three.

The acquisition follows Holcim’s entry into Peru last year. Previously, the company acquired Comacsa, Mixercon and Compañía Minera Luren.

The transaction is subject to customary conditions and regulatory approval. It is expected to close in H1 2026.