Titan Group has confirmed the acquisition of Greek family-owned quarry business LATEKAT, which expands its footprint in the region.
LATEKAT is in the Thessaly region of central Greece. Its reserves exceed 100 million tonnes, which supply the region and surrounding areas.
Titan Greece general manager Sergio Sarafopoulos said the acquisition would expand Titan’s reserves of material for supply.
“The latest acquisition in Central Greece, strengthens our integrated presence in the country and supports the reconstruction efforts in a region hit by extreme weather,” he said.
“Significantly expanding our reserves and strengthening our business model, we complement our recent investments and enhance our supply chain, positioning us for further growth across the country.”
The materials will be important for the region’s rehabilitation and flood protection infrastructure following the 2023 floods.
The acquisition of LATEKAT follows Titan’s acquisition of an aggregates quarry in Attica as well as securing a long-term commercial agreement in Southern Peloponnese. According to Titan, the long-term agreement secured 60 million tonnes of reserves.
“The acquisition aligns with our strategy to expand our reserves base in the high-growth areas of Greece. We have been investing in the country anticipating increased volumes, and we remain active, seeking investment opportunities to grow our already substantial presence in Greece,” Titan wrote in its release.
“While developing new reserves, we are also investing in the recycling of construction and demolition waste, starting from our facilities at Northeastern and West Attica (Malakasa, Xirorema) and continuing with ongoing investments in recycling facilities in Crete, Central Greece, and other locations.”
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