Martin Marietta Materials successfully completed its previously announced acquisition of Lehigh Hanson’s West Region business for $2.3 billion in cash.
Consistent with the company’s Strategic Operating Analysis and Review (SOAR) 2025 Plan, the acquisition provides Martin Marietta with two cement plants and related distribution terminals, 17 active aggregates facilities, and targeted downstream operations serving key California and Arizona markets.
“We are pleased to complete the Lehigh West Region acquisition and welcome a talented group of new employees to the Martin Marietta team,” said Ward Nye, chairman, president and CEO of Martin Marietta. “These assets serve as a new growth platform for our continued geographic expansion and are uniquely positioned to benefit from favorable market dynamics and accelerating public and private construction activity in California and Arizona.
“We are confident in our ability to quickly realize the benefits of this transaction and deliver significant value creation for our shareholders, customers and employees following the same proven approach we took with our acquisitions of TXI and Bluegrass,” he concluded.
Excluding acquisition-related expenses, Martin Marietta expects the transaction to be accretive to earnings per share within the first full year of ownership. Integration of the acquired business is anticipated to proceed as planned.