Iko acquires Roof Tile Group

TORONTO — IKO Industries Ltd., announced last week that it has concluded a deal that will see it acquire the operations of the Roof Tile Group from New Zealand based manufacturer and builder Fletcher Building. Roof Tile Group manufactures metal roofing tiles for global sales and distribution under a number of brand names, including Decra and Gerard. The purchase will expand IKO’s global reach to production sites in New Zealand, Hungary, Malaysia and the United States. “This acquisition represents an excellent opportunity to continue with our global growth strategy,” Iko Co-Chairman Hartley Koschitzky said in a statement, “and to expand our metal roofing business beyond our partnership with Metrotile NV, particularly in the North American market.” Terms of the deal were not disclosed.