SigmaRoc exercise call option to acquire CRH’s Polish lime operations
Company set to acquire lime and limestone flour operations in Poland for deferred consideration of €100 million
SIGMAROC, the Northern European-quoted lime and limestone group, have exercised the call option, entered into on 22 November 2023, and entered into a share purchase agreement to acquire the Polish lime operations of CRH plc (the Polish Target or Deal 3 Target) for a deferred consideration of €100 million (approximately £85 million).
The purchase of the Deal 3 Target, which is conditional upon Polish Competition Office clearance, is expected by the end of September 2024.
As announced on 23 November 2023, alongside the conditional acquisition of CRH’s lime businesses in Germany, the Czech Republic, and Ireland (Deal 1 Targets), SigmaRoc entered into call options which granted them the right to acquire the UK Target (Deal 2 Target), as well as CRH’s lime operations in Poland (the Polish Target) at a future date.
Following completion of the acquisition of the Deal 1 Targets on 4 January 2024 and the completion of the acquisition of the Deal 2 Target on 27 March 2024, SigmaRoc have now exercised the Polish call option.
The Polish Target, CRH’s Ovetill Investments, includes CRH’s lime and limestone flour production, associated distribution network, and assets in Poland. Founded in 1910, the Polish Target has two lime production sites in Kujawy and Sitkowka.
SigmaRoc say they are pleased with the progress to date on the integration of the Deal 1 and Deal 2 targets and will provide a further update alongside their interim results for the period ended 30 June 2024.
