Construction materials giant Saint-Gobain, with its North American headquarters in Malvern, has made a deal worth nearly $1 billion with Canadian manufacturer Kaycan, writes Ryan Mulligan for the Philadelphia Business Journal. 

The $928 million acquisition is expected to close at the end of the year. The Malvern location’s CEO, Mark Rayfield, said he expects to see growth in the Philadelphia area, and they are looking to hire more than 100 employees to aid the expansion. 

Family-owned Kaycan operates both in the U.S. and Canada. With the acquisition comes an additional 1,300 employees and 12 manufacturing plants. 

Kaycan manufactures and distributes aluminum, vinyl, and wood siding for houses. According to Saint-Gobain officials, the goal is for the company to transform into a one-stop shop for builders to get the materials necessary for a house’s exterior. 

“What does it mean about Malvern?” Rayfield said. “It means we’re continuing to grow. In order to do these kinds of acquisitions, we continue to build the infrastructure here at headquarters to support them. So, every time we expand anywhere in the region, we have to expand here to support it as well.”  

Read more about Saint-Gobain in the Philadelphia Business Journal.