Heidelberg Materials North America announced that it has entered into a definitive purchase agreement to acquire Giant Cement Holding Inc. (GCHI) and its subsidiaries, Giant Cement Company, Dragon Products Company and Giant Resource Recovery, from the Fortaleza, Uniland and Trituradora groups.
The purchase price for the transaction is about $600 million, subject to ordinary post-closing adjustments. This deal is expected to contribute around $60 million in EBITDA in its first year of operation before significant additional synergies.
This acquisition by Heidelberg Materials reflects its continued focus on enhancing its footprint in core markets, building a sustainable future, and positioning the company as the front-runner on the path to carbon neutrality and a circular economy in the construction materials industry.
KEY QUOTE:
“The acquisition of the GCHI assets will further strengthen our cementitious footprint in the growing Southeastern U.S. 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.”
– Chris Ward, President and CEO of Heidelberg Materials North America
