Heidelberg Materials North America has agreed to acquire Giant Cement (GCHI) and its subsidiaries, bolstering its presence in the US construction materials sector.
This strategic move by Heidelberg Materials North America is set to position the company on a sustainable path, with a focus on developing new building materials and digital solutions that align with environmental responsibility and the advancement of a circular economy in the construction materials industry.
Go deeper with GlobalData
The definitive purchase agreement, valued at roughly $600m, is expected to enhance Heidelberg Materials’ footprint in core markets.
The transaction is anticipated to add approximately $60m in earnings before interest, taxes, depreciation, and amortisation in the first year before additional synergies are realised.
The acquisition includes key assets in the Southeastern US and New England, as well as a hazardous and nonhazardous alternative fuel recycling business.
The assets encompassed in the deal include an integrated cement plant in Harleyville, South Carolina, and a network of distribution terminals across Georgia and South Carolina. Additionally, a joint venture deep-water import terminal in Savannah, Georgia, is part of the acquisition.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn New England, the acquisition includes Dragon Products’ assets such as a cement and slag distribution terminal in Newington, New Hampshire, and a deep-water import terminal in Boston, Massachusetts.
Giant Resource Recovery, a business specialising in alternative fuel recycling with facilities in the Eastern US, is also included.
Heidelberg Materials North America president and chief executive officer Chris Ward said: “The acquisition of the GCHI assets will further strengthen our cementitious footprint in the growing Southeastern US and New England markets.”
“We are excited to expand our supply network on the East Coast to better serve our broad customer base and we expect strong synergies with the Giant Resource Recovery fuel recycling business. We welcome the GCHI employees and customers to Heidelberg Materials and look forward to the opportunities and growth potential ahead.”
