Türkiye’s Çimsa, a subsidiary of Sabancı Holding, has entered into a strategic agreement to acquire a 94.7% stake in the UK-based Mannok, formerly known as the Quinn Group, in a deal valued at €330 million. The agreement will see Mannok’s local leadership team retain a 5.3% minority interest, ensuring continuity in management while integrating the business into Çimsa’s global operations. This acquisition, pending customary regulatory approvals, represents a key move for Çimsa as it looks to strengthen its position within the Western European building materials market.
Mannok, a well-established player in the construction sector, particularly in cement and building materials, will continue to operate under its existing brand, which has a strong presence in Ireland and the UK. The retention of the Mannok brand underscores Çimsa’s strategy to leverage the company’s local market expertise and established reputation as a growth hub for expanding Sabancı Holding’s reach in the region.
This acquisition is a significant milestone for Çimsa, as it expands its diversified portfolio in Western Europe, a region known for its robust construction industry and demand for innovative building materials. By integrating Mannok into its operations, Çimsa is poised to further enhance its production capabilities, strengthen its supply chain, and provide a broader range of building solutions to both new and existing customers.
Through this deal, Çimsa aims to capitalize on Mannok’s state-of-the-art facilities, including the Scotchtown cement works, and its strong market position in the UK and Ireland. The acquisition is in line with Sabancı Holding’s long-term strategy of growth through global expansion, particularly in key European markets.
With a focus on sustainable and innovative building materials, Çimsa plans to invest in Mannok’s operations, driving future growth while meeting the evolving demands of the construction industry. This partnership is expected to create new opportunities for both companies, combining Çimsa’s global expertise and resources with Mannok’s local market knowledge and operational strength.