Louisiana-Pacific Corp. (NYSE: LPX), Nashville, TN, has agreed to acquire Watkins, MN-based International Barrier Technology Inc. for $22 million.
Barrier will become a wholly owned subsidiary of LP and operate as part of LP's OSB business.
The acquisition is expected to "accelerate our growth into new markets,” LP CEO Brad Southern said.
Barrier manufactures fire retardant coating. Southern said the trend for more fire resistance in residential and commercial buildings continues to escalate, driven by changing building codes and their enforcement.