Polycor Announces Full Completion of the Sale of its French Business

Anthony Pagano, Chief Executive Officer of Polycor, framed the disposal as “an important step in the evolution of our group,” adding that the divestiture of the French business will allow the group to focus on its North American activities.

The Quebec-based natural-stone heavyweight has confirmed the full and final sale of its French operations to HBI, the parent company of Iribarren Pierres Naturelles, in a deal that signals a strategic retreat from Europe and a renewed focus on North American expansion. 

Announced as closed on 10 December 2025, the transaction follows an earlier declaration in November that Polycor had received a definitive offer and entered exclusive negotiations with HBI. Company statements make clear the move was intended to simplify Polycor’s portfolio and free up resources for growth opportunities closer to home. 

Anthony Pagano, Chief Executive Officer of Polycor, framed the disposal as “an important step in the evolution of our group,” adding that the divestiture of the French business will allow the group to focus on its North American activities. As such, the language would suggest a deliberate reallocation of capital and management attention to those markets where the group believes it can accelerate both organic growth and acquisitive scale. 

For the family-run operator HBI, with deep roots in the French stone sector, the acquisition is presented as something of a homecoming. The buyer-under the Iribarren Pierres Naturelles banner-is led by Bertrand Iribarren, one of the best-known faces in France‘s natural-stone industry and long an advocate of local sourcing and the material’s low carbon footprint. Industry commentary has focused on HBI’s commitment to maintaining know-how and local resources and returning the business to domestic ownership. 

The deal finally closes the chapter that began when Polycor heavily expanded its presence in France in recent years, including the much-vaunted acquisition of Rocamat and several quarry assets. That earlier consolidation was part of Polycor’s general strategy of building an international platform in Europe and North America; this divestment now finally reverses that course for the French arm, leaving the company’s transatlantic credentials intact. 

Market observers will read the transaction in two ways. On one hand, it is a pragmatic simplification: carving off a regionally complex business can reduce overhead, regulatory exposure and operational distraction. On the other, it reflects a more bullish view of North American demand for construction-grade stone – from restoration of heritage buildings to large-scale commercial projects – where Polycor already supplies an extensive catalogue of quarried stone. 

For customers, suppliers, and staff, the immediate preoccupation is continuity. Communications from Polycor emphasize that the sale has been structured to provide a “solid future” for the divested business under the stewardship of HBI. HBI’s family heritage and previous investments in French quarries were flagged as reassuring signals of the intent to retain local expertise and historic relationships. 

Financial details of the transaction were not released in either public notice, and Polycor has not indicated immediate large-scale changes to its North American operations. Rather, it positions itself to deploy capital and management bandwidth where it sees the most compelling near-term returns. That position is consistent with private-equity-backed corporates and industrial groups periodically pruning non-core assets with a view to sharpening competitive advantage. 

For the natural-stone sector, this sale also carries a story: of an industry where family businesses and regional specialists still hold significant sway, where consolidation-sometimes followed by selective divestment-continues to be a periodic refrain as groups desire scale without losing the craftsmanship and local provenance so highly prized by customers. The acquisition by HBI could thus be interpreted not only as a business transaction but as one in which French stone production may be returned to being led by, at least, domestic custodianship. 

As Polycor pivots northward, analysts will be interested to see how it deploys capital: expanded M&A in the United States and Canada or invests in capacity and sustainability initiatives. For HBI and the French stone industry, the handover provides an opportunity to crystallize local identity and expertise-and perhaps to reassert France’s position as a guardian of historic stone craftsmanship in a market increasingly fixated on provenance and carbon credit.