Heidelberg Materials North America entered into an agreement to purchase Highway Materials, an independent aggregate and asphalt producer in the Philadelphia market.
Four crushed stone quarries, nine hot-mix asphalt plants, two clean fill operations, a concrete recycling facility, a construction services business and more than 350 employees are included with the Heidelberg Materials acquisition.
“The addition of the Highway Materials business, with its broad range of products and more than 80 years of history in Pennsylvania, is a great opportunity to strengthen the company’s aggregate reserves in this core market while also growing our recycling operations,” says Matteo Rozzanigo, president of the Northeast region at Heidelberg Materials North America.
Victory Rock deal
In a separate deal, Heidelberg Materials acquired Victory Rock, a producer of aggregates for concrete and asphalt with two quarries in Texas.
“The acquisition of Victory Rock further solidifies our existing footprint in Texas and expands our reach in the key growth markets of Austin, Killeen/Temple and Fort Worth,” says Chris Hobby, president of the Southwest region at Heidelberg Materials North America.
Worth noting
The purchase price for the two acquisitions, as well as a recent deal for Texas-based Aaron Materials, totaled about $380 million, according to Heidelberg Materials.
“We are excited to welcome the Highway Materials, Victory Rock and Aaron Materials employees to Heidelberg Materials,” says Chris Ward, president and CEO of Heidelberg Materials North America. “The addition of these operations complements our existing aggregates businesses in Texas and Pennsylvania while also adding to our rapidly growing portfolio of circular solutions across North America.”
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