Dr Dominik von Achten. Image: Heidelberg Materials
Heidelberg Materials has announced an acquisition to expand its presence in the New York market and its footprint within the United States.
Heidelberg Materials has acquired Carver Sand & Gravel, which is one of the largest aggregate producers in the Albany, New York region.
Under the agreement, Heidelberg Materials will acquire four quarries, three sand and gravel pits, two asphalt plants, 70 million metric tonnes of aggregate reserves, a logistics business, and about 200 employees.
“Our latest investment reflects yet another bolt-on acquisition aimed at expanding our North American business in a regional growth market,” Chris Ward, Heidelberg Materials North America chief executive officer and president, said.
“We are excited to complement our existing vertically integrated footprint in Central New York and expand our reach into the attractive Capital Region surrounding Albany, the capital of New York State.”
As part of the agreement, Heidelberg Materials and Carver Companies will have a strategic partnership in the Albany region for land and marine logistics.
According to the public statement, the two companies have agreed to not disclose the financial details of the deal. The acquisition is expected to be completed in the third quarter of 2024.
Carver Sand & Gravel sells about 1.8 million metric tonnes of materials annually, with a capacity of around 3 million metric tonnes per year.
It follows the company’s acquisition of Bach & Co. last year, which further enhanced its presence in the same area and US footprint.
“Such targeted investments contribute towards further top and – through synergies – bottom line growth in the attractive North American market while accelerating our green transformation,” Heidelberg Materials managing board chairman Dr Dominik von Achten.
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