CRH agrees $1.9bn acquisition of Barrette Outdoor Living

Barrette reported a profit before tax of $79 million last year, and gross assets of $1.2 billion

Albert Manifold, chief executive of CRH: “Barrette is an excellent addition to CRH.” Picture: Maura Hickey

CRH, the construction giant, has reached an agreement with TorQuest Partners and Caisse de dépôt et placement du Québec to buy Barrette Outdoor Living for an enterprise value of $1.9 billion (€1.8 billion).

Barrette Outdoor Living is a North American residential fencing and railing solutions company.

The price being paid represents an acquisition multiple of around 10 times earnings before interest, taxation, depreciation and amortisation (EBITDA) pre-synergies.

For the year ended January 1, 2022, Barrette ...