Gebr. Knauf KG, Iphofen, Germany, has completed the previously announced acquisition of USG Corp. (NYSE: USG), Chicago, Illinois. Terms of the deal were not disclosed.

The acquisition creates a global building materials industry leader that will be better positioned to meet customers’ needs by leveraging two highly complementary businesses, product portfolios and global footprints.

“This transformational transaction is the largest acquisition in Knauf’s history and, accordingly, presents significant opportunities to create a stronger, more sustainable company for our employees, customers and communities,” said Alexander Knauf, general partner of Knauf. “We greatly admire USG’s strong brands, leading market positions in North American wallboard and ceilings, and highly talented employee base. We are excited to welcome USG employees to the Knauf family and look forward to working together to accelerate growth and profitability and even better serve our customers.”