US: Martin Marietta Materials has signed a deal to buy 20 aggregates operations in the Southeast US from Blue Water Industries for US$2.05bn. Reuters has reported that the partners expect to close the deal later in 2024. Martin Marietta Materials says that the acquisitions will help it to meet rising national demand for building materials. The North Carolina-based group operates aggregates sites in 28 US states, Canada and the Bahamas.
Martin Marietta Materials previously indicated that recent divestitures in its ready-mix concrete business and other areas would help it to ‘redeploy the proceeds into pure-play aggregates acquisitions.’
