Vulcan Materials Co. came to an agreement to acquire Wake Stone Corp., an aggregate producer with quarry operations in North Carolina and South Carolina.
Vulcan Materials expects the deal to close later this year.
“We look forward to welcoming Wake Stone to the Vulcan family,” says Tom Hill, chairman and CEO of Vulcan Materials. “Established in 1970, Wake Stone has successfully built a leading aggregates franchise that shares many of the same values as Vulcan. Our people are at the heart of our business, and we are excited to work with the talented Wake Stone team.”
Wake Stone ranks 24th on the U.S. Geological Survey’s latest list of the nation’s top 100 crushed stone producers. According to the company, its four North Carolina quarry locations are in Battleboro, Cary, Knightdale and Moncure. The company’s lone South Carolina operation – the North Myrtle Beach Quarry – is in Loris.
As Vulcan Materials describes, acquiring these sites adds 60-plus years of hard rock reserves to its portfolio.
“This acquisition is consistent with our aggregates-led growth strategy of continuing to expand our reach to better serve more high-growth regions in the United States,” Hill says. “Our ‘Vulcan Way of Selling’ and ‘Vulcan Way of Operating’ disciplines remain fundamental to consistently compounding profitability across our franchise and successfully integrating new operations. With the financial strength and flexibility to continue to grow, we are well-positioned to continue to deliver value for our shareholders and our customers.”
