Sources: Summit Materials Inc., Denver; CP staff
Atlanta-based Quikrete Holdings Inc. has completed the acquisition of key cement, aggregate and concrete operator Summit Materials. The deal closed February 10 per terms of Quikrete Holdings’ November 2024 offer of $52.50/share, representing an enterprise value of $11.5 billion, about $2 billion of which is assumed debt. Led by Colombia-based Cementos Argos (31 percent stake, acquired February 2024), shareholders formally approved the offer earlier this month. The Summit Materials portfolio spans Argos USA and legacy Continental Cement cementitious material production and distribution assets, plus aggregate sites from the Appalachian region to Arizona and Wasatch Front to south Texas. They afford significant supply chain reinforcement for Quikrete Holdings’ sprawling packaged raw and cement-based materials, concrete masonry and hardscape unit, pipe, precast, and prestressed concrete operations.
The buyout ends Summit Materials trading on the New York Stock Exchange, one business day after Virginia and Florida market peer Titan America SA’s initial public offering on the same Wall Street venue.
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