CRH completes US$2.1bn acquisition of cement and concrete assets in US

The deal was announced in November 2023, and includes a cement plant with a capacity of 2.1 million tonnes located between San Antonio and Austin in Texas, US.

Additionally, CRH will acquire a network of terminals on the Eastern Gulf Coast of Texas and a portfolio of 20 ready-mixed concrete plants that serve the Austin and San Antonio markets. The combined assets are expected to generate pro-forma 2023 EBITDA of around US$170 million.

Albert Manifold, chief executive of CRH, said, “The acquisition of these high-quality assets further strengthens our market-leading position in Texas and increases our exposure to attractive, high-growth markets. Our ability to leverage our cement expertise and technical capabilities will enable us to enhance and optimise our existing footprint in Texas, resulting in significant synergies and self-supply opportunities.

“This transaction reflects our disciplined approach to capital allocation and our commitment to further growth and value creation for our shareholders. We also believe there is significant potential to unlock additional growth opportunities across an expanded footprint in this attractive growth market.”