CRH has agreed to acquire US-based glazing firm CR Laurence for $1.3 billion.

The Dublin-headquartered building materials group said it would finance the deal using its existing resources, with the company being acquired debt-free.

CR Laurence makes a range of glass-related products for commercial and residential use and last year made a pre-tax profit of $51m.

It employs more than 1,600 people across 42 locations in the US and Canada and is currently growing its business in Europe and Australia.

CRH said the firm would be an “exceptional strategic fit” for its BuildingEnvelope business, which employs 4,500 people across North America.

The acquisition announcement was made alongside CRH's interim results for the first half of the year, which highlighted revenue growth of 13% on the back of a 26% pick up in sales in the Americas.

The building materials company took in €9.37 billion during the six month period – compared to €8.32 billion a year ago.

It reported a €63m profit on the back of that – 3.3% higher than in the first half of 2014.

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Strong growth in the Americas was countered somewhat by a 1% dip in reported sales for Europe, though the company said its performance there was broadly in line with expectations.

CRH recently completed the acquisition of some European and American assets previous held by competitors Lafarge and Holcim, which made the disposals as part of a merger deal.

The company said it was now in the process of integrating these units into its main business, while the acquisition of a Philippines unit was expected to close in the near future.

CRH is in the process of 'rebalancing' its portfolio of companies and said it had taken in €670m during the period from divestments and disposals.

It spent a further €113m on acquisitions and investments.