French building materials maker Compagnie de Saint-Gobain AG closed the acquisition of Peru-based Celima Group's mortars division.
Saint-Gobain said the transaction could help accelerate the company's growth in Peru, in line with its strategy of expanding presence in emerging markets. Saint-Gobain has been operating in Peru through its Weber brand since 2014.
Celima Group's mortars business provides tiling adhesives and operates three plants in Peru, employing around 100 people.
Financial terms of the deal were not disclosed.