Martin Marietta acquires aggregates operations, completes cement divestiture

Martin Marietta entered into a definitive agreement to acquire 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from affiliates of Blue Water Industries for $2.05B in cash. Additionally, on February 9, the company completed its divesture of its South Texas cement and related concrete operations to CRH Americas Materials, a subsidiary of CRH, for $2.1B in cash. The BWI Southeast transaction will be financed with balance sheet cash and is expected to close later this year, subject to regulatory approvals and other customary closing conditions.