Heidelberg Materials continue to expand US footprint
Company to acquire New York-based Carver Sand & Gravel strengthening foothold in growing local core market
HEIDELBERG Materials have announced that they have entered into a definitive purchase agreement to acquire Carver Sand & Gravel, the largest aggregates producer in the Albany, New York, area.
The assets of Carver Sand & Gravel include four quarries, three sand and gravel pits, two asphalt plants, 70 million metric tonnes of aggregate reserves, a logistics business, and around 200 employees. Heidelberg Materials and Carver Companies have also agreed on a strategic partnership in the Albany area for land and marine logistics.
‘We are continuing to grow our US business in line with our strong focus on deepening our footprint in local core markets,’ said Dr Dominik von Achten, chairman of the managing board of Heidelberg Materials. ‘Such targeted investments contribute towards further top and – through synergies – bottom line growth in the attractive North American market while accelerating our green transformation.’
Chris Ward, president and CEO of Heidelberg Materials North America, added: ‘Our latest investment reflects yet another bolt-on acquisition aimed at expanding our North American business in a regional growth market. We are excited to complement our existing vertically integrated footprint in central New York and expand our reach into the attractive capital region surrounding Albany, the capital of New York State.’
Both parties have agreed not to disclose the financial terms of the transaction. The acquisition is expected to be completed in the third quarter of 2024.
