Martin Marietta sells South Texas cement & concrete ops to CRH for $2.1B cash

MARTIN MARIETTA MATERIALS INC

Purchase price of $2.1B in cash; includes Hunter cement plant and 20 concrete plants.
Transaction expected to close in first half 2024, subject to HSR and customary conditions.
Proceeds to advance SOAR 2025 growth objectives and return capital to shareholders.
Divestiture includes South Texas cement plant, distribution terminals, and Austin/San Antonio ready-mix plants.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MARTIN MARIETTA MATERIALS INC entered into Purchase Agreement with CRH Americas Materials, Inc. valued at $2,100,000,000 (effective 2023-11-20).

Action: entry
Agreement: asset purchase
Counterparty: CRH Americas Materials, Inc.
Value: $2,100,000,000
Effective: 2023-11-20

Exact text from the filing

On November 20, 2023, Martin Marietta Materials, Inc., a North Carolina corporation (“ Martin Marietta ”), CRH Americas Materials, Inc, a Delaware corporation (“ Purchaser ”), and, solely for certain purposes set forth in the Purchase Agreement (as defined below), CRH plc, a public limited company organized under the laws of Ireland, entered into an Equity and Asset Purchase Agreement (the “ Purchase Agreement ”).

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Source: SEC EDGAR

accession 0000950157-23-001164

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