DUBLIN, Ireland, Nov. 22, 2023 (GLOBE NEWSWIRE) — CRH plc, the leading provider of building materials solutions, is pleased to announce that it has reached an agreement to divest its lime operations in Europe (the "Business") to SigmaRoc plc for a total consideration of c.$1.1 billion. The transaction is subject to customary conditions and regulatory approvals.
The Business comprises 16 operating locations with leading market positions across Ireland, the UK, Germany, Czech Republic and Poland. The combined Business generated sales of c.$610 million and EBITDA of c.$137 million in 2022.
The transaction is structured in three phases, the first of which is expected to complete in early 2024 comprising the Group’s lime operations in Germany, Czech Republic and Ireland. The remaining phases, consisting of operations in the UK and Poland, are expected to complete in 2024.
Albert Manifold, Chief Executive of CRH, said: "The decision to divest at an attractive valuation follows a comprehensive review of the Business and demonstrates CRH’s active approach to portfolio management. The proceeds from the divestment will provide us with significant additional capital allocation opportunities to deliver further growth and value creation for our shareholders."
Contact CRH at Dublin 404 1000 (+353 1 404 1000)
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CRH (NYSE: CRH, LSE: CRH) is the leading provider of building materials solutions that build, connect and improve our world. Employing c.75,800 people at c.3,160 operating locations in 29 countries, CRH has market leadership positions in both North America and Europe. As the essential partner for road and critical utility infrastructure, commercial building projects and outdoor living solutions, CRH’s unique offering of materials, products and value-added services helps to deliver a more resilient and sustainable built environment. The company is ranked among sector leaders by Environmental, Social and Governance (ESG) rating agencies. A Fortune 500 company, CRH’s shares are listed on the NYSE and LSE.
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