Martin Marietta Materials and Quikrete Holdings have signed a definitive agreement which will see the two companies exchange specific assets.
The deal will see Martin Marietta gain aggregates operations in Virginia, Missouri, Kansas and Vancouver, British Columbia, as well as $450 million of cash. The operations, according to the release, produce around 20 million tonnes of aggregates annually.
It comes after Martin Marietta closed a separate deal for Premier Magnesia, LLC, a privately-owned producer of magnesia-based products. Premier has operations in Nevada, North Carolina, Indiana and Pennsylvania and expands Martin Marietta’s assets of natural and synthetic magnesia-based products.
“Consistent with the priorities outlined in the Company’s Strategic Operating Analysis and Review (SOAR) 2025 plan, we continuously endeavor to improve the attractiveness of our portfolio through asset purchases, exchanges and divestitures,” Martin Marietta president and chief executive officer Ward Nye said.
“Following a thorough evaluation, we believe that exchanging our remaining cement plant and related ready-mixed concrete operations for core aggregates assets and pursuing accretive bolt-on acquisitions for our complementary Magnesia Specialties business best positions the Company for long-term earnings growth.”
Under the terms of the deal, Quikrete Holdings received Martin Marietta’s Midlothian cement plant, related cement terminals and North Texas ready-mixed concrete assets.
The deal is subject to customary closing conditions but expected to close in the first quarter of 2026.
