Australia: Heidelberg Materials announced that it has entered into a conditional purchase agreement to acquire the ready-mixed concrete business of Midway Concrete, a family-owned company based in Australia. Midway Concrete operates in the greater Melbourne and Geelong areas, with four concrete plants at Laverton, Craigieburn, Melton and Lara.
"This bolt-on acquisition complements our existing concrete and quarry operations within Melbourne, strengthening our integrated market position in an attractive region," said Dominik von Achten, chair of Heidelberg Materials. "The latest addition reflects our strong commitment to further expand our footprint in core markets as part of our ongoing portfolio optimisation. Our growing base of customers in the region will benefit from an enhanced supply of sustainable products while we further extend our product portfolio."
The transaction is subject to regulatory approval. Both parties have agreed not to disclose the financial terms of the transaction, which is expected to be completed by mid-2025.
