CRH Acquires Aggregates Business for $2.1B

Ticker: CRH · Form: 8-K · Filed: Sep 27, 2024 · CIK: 849395

Sentiment: bullish

Topics: acquisition, materials, expansion

TL;DR

CRH buying a big aggregates biz for $2.1B, closing H1 2025.

AI Summary

CRH Public Ltd Co announced on September 27, 2024, that its subsidiary, CRH Americas Inc., has entered into a definitive agreement to acquire a leading aggregates business for approximately $2.1 billion. The transaction is expected to close in the first half of 2025, subject to customary closing conditions.

Why It Matters

This significant acquisition expands CRH's footprint in the aggregates sector, a key component of the construction materials industry, potentially boosting its market share and profitability.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions and regulatory approvals, which could delay or prevent its completion.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this 8-K filing?

This 8-K filing reports on CRH Public Ltd Co's entry into a definitive agreement to acquire a leading aggregates business for approximately $2.1 billion.

Who is making the acquisition?

The acquisition is being made by CRH Americas Inc., a subsidiary of CRH Public Ltd Co.

What is the total value of the transaction?

The definitive agreement is for the acquisition of the aggregates business for approximately $2.1 billion.

When is the acquisition expected to be completed?

The transaction is expected to close in the first half of 2025.

Are there any conditions to closing the acquisition?

Yes, the transaction is subject to customary closing conditions.

Filing Stats: 1,149 words · 5 min read · ~4 pages · Grade level 12 · Accepted 2024-09-27 16:24:54

Filing Documents

02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. Appointment of Chief Executive Officer On September 24, 2024, CRH public limited company (the "Company") announced that the Board of Directors of the Company (the "Board") has appointed Jim Mintern to become the Company's Chief Executive Officer, effective January 1, 2025. Mr. Mintern will remain on the Board. Mr. Mintern (age 57) is currently the Chief Financial Officer of the Company and has been a member of the Board since June 2021. Mr. Mintern has over 30 years of experience in the building materials industry, 22 years of which have been with the Company. Prior to being appointed as Chief Financial Officer in June 2021, Mr. Mintern held the role of Chief of Staff to the CEO working closely with divisional and operational leadership from September 2017 , having oversight of the Company's performance programs and leading the planning and execution of some of the Company's recent large acquisitions including Ash Grove in North America in 2018. He previously held several senior positions across the Company, including Country Manager for Ireland and Managing Director of each of the Western and Eastern regions of the Company's Europe Materials business. The terms of Mr. Mintern's compensation as Chief Executive Officer have yet to be determined. The Company will file an amendment to this Form 8-K when such compensation has been determined. There are no arrangements or understandings between Mr. Mintern and any other person pursuant to which Mr. Mintern was appointed to serve as Chief Executive Officer of the Company. There are no family relationships between Mr. Mintern and any director or executive officer of the Company, and Mr. Mintern has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Retirement of Chief Executive Officer and Member of Board of Directors Addi

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On September 24, 2024, the Company issued a press release announcing the retirement of Albert Manifold as Chief Executive Officer and as a member of the Board and the appointment of Jim Mintern as Chief Executive Officer. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. The information disclosed in this Current Report on Form 8-K pursuant to this Item 7.01 (including Exhibit 99.1 attached hereto) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in any such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release of CRH public limited company, dated September 24 , 2024 104 Cover Page Interactive Data File (formatted in Inline XBRL)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 27, 2024 CRH public limited company /s/ Neil Colgan By: Neil Colgan Company Secretary

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