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Home›Asia-Pacific›Another massive deal in the building supply sector, James Hardie offers AZEK $8.75 billion
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Another massive deal in the building supply sector, James Hardie offers AZEK $8.75 billion

By -
Tuesday, March 25, 2025
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Australian building products company James Hardie Industries is buying the U.S. outdoor products maker AZEK in a cash-and-stock deal valued at approximately $8.75 billion, including $386 million in debt.

It’s the second major acquisition in the building supplies sector in less than a week, with QXO Inc. announcing that it was buying Beacon Roofing Supply Inc. in a deal worth about $11 billion, including debt.

The U.S. housing market has been in a slump since 2022, when mortgage rates began to climb from pandemic-era lows. Sales of previously occupied U.S. homes fell last year to the lowest level in nearly 30 years.

The average rate on a 30-year mortgage in the U.S. rose slightly for the second week in a row to 6.67%,mortgage buyer Freddie Mac said.

Raymond James analyst Sam Darkatsh said in a client note that the uncertainty in the housing market makes Beacon’s acquisition a positive for its shareholders. Beacon is based in Herndon, Virginia.

Under the James Hardie deal, shareholders of The AZEK Company Inc. will receive $26.45 in cash and 1.034 ordinary shares of James Hardie for each share of AZEK stock that they own.

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