US: Heidelberg Materials North America has acquired aggregates and asphalt producer Highway Materials. Highway Materials is based in Philadelphia, Pennsylvania, and operates four stone quarries, a concrete recycling facility and other assets, with 350 employees. Heidelberg Materials previously acquired Texas-based aggregates producer Victory Rock and concrete recycling company Aaron Materials earlier in July 2024. The deals advance Germany-based Heidelberg Materials’ strategy of growth through small-to-medium-sized synergistic bolt-on acquisitions. The combined value of the acquisitions is US$380m, with anticipated earnings synergies of US$50m.
Heidelberg Materials North America president and CEO Chris Ward said “We are excited to further expand our footprint in two of the fastest-growing areas in the US. The addition of these operations complements our existing aggregates businesses in Texas and Pennsylvania, while also adding to our rapidly growing portfolio of circular solutions across North America.”
Heidelberg Materials chair Dominik von Achten said “These latest US acquisitions reflect the progress of our ongoing efforts to optimise our portfolio by expanding our presence in this key region. We will continue on our growth trajectory in our key markets around the globe, while pursuing the industry’s most ambitious sustainability goals.”
