Colas Completes $480 Million Acquisition of Suit-Kote

Following the completion of the review process under U.S. antitrust regulations (the Hart-Scott-Rodino Antitrust Improvements Act) and the conclusion of discussions with the U.S. competition authorities, Colas Inc., the U.S. subsidiary of Colas, completed on October 20, 2026 the acquisition of 100% of the shares of Suit-Kote from the Suits family.

Specializing in the distribution of liquid asphalt, the production of emulsion blends, and pavement construction and preservation services across several northeastern U.S. states, Suit-Kote generated approximately US$460 million in revenue in 2025.

The acquisition was completed on the basis of an enterprise value of US$480 million. Following completion of the acquisition on October 20, 2026, Suit-Kote’s results will be consolidated in the Group’s financial statements as of December 31, 2026.

Colas will implement post-closing remedies and related measures required under the antitrust clearance process.

“The completion of this transaction marks a new milestone for Colas in the United States. Suit-Kote brings strong regional roots, recognized expertise in bituminous solutions, and activities that are highly complementary to our own. We will now focus on integrating the teams and on the development opportunities this combination will create across the northeastern United States,” said John Harrington, Executive Vice President, United States.

“It was a very difficult decision for me to transfer ownership of our 105-year-old family business. I intentionally chose Colas, and as I have continued to learn more about Colas and their team, I am convinced that I made the right choice for Suit-Kote’s next chapter. I look forward to watching Suit-Kote’s continued success as part of Colas Inc,” said Frank Suits Jr, Chief Executive Officer & President of Suit-Kote Corporation.

This acquisition is in line with Colas’ international development strategy in targeted geographies, particularly the United States, Northern Europe, and Germany. The acquisition expands Colas’ industrial footprint in North America and its presence in the region’s asphalt distribution market.

Colas has been operating in North America for over 60 years. It employs 12,500 people and generated 26% of its revenue there at the end of 2025, making it the Group’s second-largest market after France.