Heidelberg Materials North America announced that it has entered into a definitive purchase agreement to acquire Giant Cement Holding Inc. (GCHI) and its subsidiaries, Giant Cement Company, Dragon Products Company and Giant Resource Recovery, from the Fortaleza, Uniland and Trituradora groups.
Included in the transaction are:
- Giant Cement Company assets in the Southeastern U.S., consisting of an integrated cement plant in Harleyville, South Carolina, a network of four cement distribution terminals in Georgia and South Carolina as well as a joint-venture deep-water import terminal in Savannah, Georgia.
- Dragon Products assets in New England, including a cement and slag distribution terminal in Newington, New Hampshire, and a deep-water import terminal in Boston, Massachusetts.
- Giant Resource Recovery (GRR!), a hazardous and non-hazardous alternative fuel recycling business with four strategically located facilities in the Eastern U.S.
Purchase price for the transaction is approximately $600 million subject to ordinary post-closing adjustments. This transaction is expected to contribute around $60 million in EBITDA in the first year of operation before significant additional synergies.
This latest acquisition by Heidelberg Materials reflects its continued focus on further strengthening its footprint in core markets, building a sustainable future and positioning the company as the front-runner on the path to carbon neutrality and a circular economy in the construction materials industry.
