Apogee Enterprises, Inc. has entered into a definitive agreement to acquire Latvian advanced glass coatings specialist GroGlass for up to €62.5 million (approximately $72.5 million) on a cash-free, debt-free basis. The transaction is subject to customary closing conditions and is expected to close during Apogee’s fiscal 2027 third quarter.
Based in Riga, Latvia, GroGlass specializes in high-performance glass surface solutions, including anti-reflective and advanced coatings for display, architectural and technical applications. Its products are used across global markets including museums, electronics and architectural design, with a portfolio recognized for optical clarity and durability.
Up to €10 million of the purchase price will be payable over three years, contingent on GroGlass achieving specified financial targets.
Following completion, GroGlass will become part of Apogee’s Performance Surfaces segment. The acquisition is intended to expand Apogee’s coating technologies, materials science expertise, product portfolio and international market reach. 
Apogee expects GroGlass to contribute approximately $30 million in revenue during its first 12 months, with an adjusted EBITDA margin of around 25%. The company has also identified at least $4 million in annualized cost synergies and operating improvements, targeted for realization within three years.
Source: Apogee Enterprises with additional information added by Glass Balkan
