Martin Marietta Materials Has Agreed To Acquire 20 Active Aggregates Operations In Alabama, South Carolina, South Florida, Tennessee, And Virginia From Blue Water Industries For $2.05B In Cash
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Martin Marietta Materials (MLM) has agreed to purchase 20 active aggregates operations located in Alabama, South Carolina, South Florida, Tennessee, and Virginia from Blue Water Industries for $2.05 billion in cash. This acquisition, along with the recent purchase of Albert Frei & Sons, Inc. in Colorado, adds about 1 billion tons of high-quality reserves to MLM's portfolio and is expected to generate over $180 million in annualized EBITDA.
February 12, 2024 | 11:58 am
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Martin Marietta Materials' acquisition of 20 aggregates operations from Blue Water Industries for $2.05 billion in cash significantly expands its operational footprint and reserves, promising to enhance its annual EBITDA by over $180 million.
The acquisition directly impacts MLM by significantly expanding its portfolio of high-quality reserves, which is crucial for its long-term growth and profitability. The expected increase in annualized EBITDA by over $180 million underscores the financial benefits and strategic importance of this acquisition, likely leading to a positive short-term impact on MLM's stock price.
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