Martin Marietta and Quikrete Holdings came to terms on a deal whereby the two will trade an assortment of construction materials assets.
Under the terms of the agreement, Martin Marietta will receive aggregate operations producing about 20 million tons annually in Virginia, Missouri, Kansas and Vancouver, British Columbia, as well as $450 million in cash.
In exchange, Quikrete will receive Martin Marietta’s Midlothian cement plant, related cement terminals and northern Texas ready-mixed concrete assets.
The Martin Marietta-Quikrete deal is expected to close in the first quarter of 2026.
In a separate deal, Martin Marietta completed the acquisition of Premier Magnesia, a privately-owned producer of magnesia-based products with operations in Nevada, North Carolina, Indiana and Pennsylvania. Martin Marietta says the Premier deal enhances its position in natural and synthetic magnesia-based products.
“Consistent with the priorities outlined in the company’s Strategic Operating Analysis & Review 2025 plan, we continuously endeavor to improve the attractiveness of our portfolio through asset purchases, exchanges and divestitures,” says Ward Nye, chair, president and CEO of Martin Marietta. “Following a thorough evaluation, we believe that exchanging our remaining cement plant and related ready-mixed concrete operations for core aggregates assets and pursuing accretive bolt-on acquisitions for our complementary magnesia specialties business best positions the company for long-term earnings.”
Related: Heidelberg Materials acquires Burnco assets in Canada
