Knife River Corp. completed several acquisitions in recent months, including deals for Frank B. Marks & Son and Rock Products Manufacturing.
Frank B. Marks & Son is located in Northern California while Rock Products Manufacturing is in central Oregon.
Knife River also acquired a sand reserve in Sioux Falls, South Dakota, and an asphalt producer in Washington.
“On Nov. 2, we purchased the business of Albina Asphalt,” says Brian Gray, president and CEO of Knife River. “Based in Vancouver, Washington, Albina will expand the footprint of our high-margin liquid asphalt materials product line, with terminals in our most profitable geographic segment.”
Gray says Knife River has deployed $129.3 million of capital on six acquisitions through Nov. 2. The company’s focus regarding acquisitions is on aggregate reserves and construction materials, he adds.
“While we incurred more corporate development costs during the [third] quarter related to increased acquisition activity, we believe these investments will enhance our long-term profitability,” Gray says. “We are excited to have a full pipeline of additional acquisition opportunities in front of us.”
