Vulcan to acquire Superior Ready Mix Concrete

Aggregates-led growth strategy will see Southern Californian business added to Vulcan’s portfolio

VULCAN Materials Company, the largest producers of construction aggregates in the US, have entered into a definitive agreement to acquire Superior Ready Mix Concrete LP.

The value-enhancing acquisition will add six aggregates operations with more than 50 years of quality reserves to Vulcan’s franchise in California, which ranks as the most populous state in the US and the second-largest aggregates market.

Superior will also enhance Vulcan’s customer service capabilities in Southern California with two asphalt plants and 13 ready-mixed concrete locations.

Tom Hill, Vulcan’s chairman and chief executive officer, said: ‘Since their beginnings in 1958, Superior have had an unwavering commitment to excellence and a long and successful track record of providing high-quality products and services to their customers.

‘Our continuous improvement culture is about making the best even better, and we look forward to working with the Superior team to do just that.’

Mr Hill continued: ‘This acquisition is consistent with our aggregates-led growth strategy of continuing to expand our reach to better serve attractive regions in the US. Our Vulcan Way of Selling and Vulcan Way of Operating disciplines remain fundamental to consistently compounding profitability across our franchise and successfully integrating new operations.

‘We are excited about the breadth of strategic opportunities created by adding Superior to Vulcan’s portfolio. With the financial strength and flexibility to continue to grow, we are well-positioned to continue to deliver value for our shareholders and our customers.’

The transaction is expected to close by the end of this year, subject to customary closing conditions.