Summit Materials is in advanced talks to be acquired by Quikrete, according to a Wall Street Journal report released Thursday.
The Wall Street Journal indicates that a deal could come together early next week.
Summit revealed in October that it had received a non-binding acquisition proposal, with Bloomberg reporting that Quikrete was the organization that approached Summit.
According to Summit, it had already held initial discussions at the time with the “interested party.” The company planned to evaluate the proposal to determine a course of action.
“There can be no assurance that any definitive agreement will be reached,” Summit said Oct. 24 in a written statement. “Summit does not plan to provide any updates with respect to this matter, except as required under applicable law.”
Founded in 1940, Quikrete characterizes itself as the “largest manufacturer of pre-blended, packaged concrete and cementitious products in North America.”
