CRH Acquires Aggregates Business for $2.1B

Ticker: CRH · Form: 8-K · Filed: 2024-09-27T00:00:00.000Z

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

$2.1B — Acquisition Price (Cost of acquiring a leading aggregates business)
H1 2025 — Expected Closing (Anticipated timeframe for the acquisition to be finalized)

Key Players & Entities

CRH Public Ltd Co (company) — Registrant
CRH Americas Inc. (company) — Subsidiary acquiring business
$2.1 billion (dollar_amount) — Acquisition price
first half of 2025 (date) — Expected closing period
September 27, 2024 (date) — Report date
September 23, 2024 (date) — Earliest event reported date

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.

From the Filing

0001628280-24-041477.txt : 20240927 0001628280-24-041477.hdr.sgml : 20240927 20240927162454 ACCESSION NUMBER: 0001628280-24-041477 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240927 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240927 DATE AS OF CHANGE: 20240927 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CRH PUBLIC LTD CO CENTRAL INDEX KEY: 0000849395 STANDARD INDUSTRIAL CLASSIFICATION: CEMENT, HYDRAULIC [3241] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: L2 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32846 FILM NUMBER: 241335225 BUSINESS ADDRESS: STREET 1: STONEMASON'S WAY, RATHFARNHAM CITY: DUBLIN 16 STATE: L2 ZIP: D16 KH51 BUSINESS PHONE: 353 1 404 1000 MAIL ADDRESS: STREET 1: STONEMASON'S WAY, RATHFARNHAM CITY: DUBLIN 16 STATE: L2 ZIP: D16 KH51 8-K 1 crh-20240927.htm 8-K crh-20240927 false 0000849395 0000849395 2024-09-27 2024-09-27 0000849395 us-gaap:CommonStockMember 2024-09-27 2024-09-27 0000849395 crh:FivePointTwoPercentGuaranteedNotesDue2029Member 2024-09-27 2024-09-27 0000849395 crh:SixPointFourPercentNotesDue2033Member 2024-09-27 2024-09-27 0000849395 crh:FivePointFourPercentGuaranteedNotesDue2034Member 2024-09-27 2024-09-27 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 27, 2024 (September 23, 2024) CRH public limited company (Exact name of registrant as specified in its charter) Ireland 001-32846 98-0366809 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) Stonemason's Way , Rathfarnham , Dublin 16, D16 KH51 , Ireland (Address of principal executive offices) +353 1 404 1000 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d 2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Ordinary Shares of €0.32 each CRH New York Stock Exchange 5.200% Guaranteed Notes due 2029 CRH/29 New York Stock Exchange 6.40% Notes due 2033 CRH/33A New York Stock Exchange 5.400% Guaranteed Notes due 2034 CRH/34 New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter) ☐ Emerging Growth Company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(e) of the Exchange Act ☐ 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 “Co