Acquisition enhances aggregates platform in Colorado’s high-growth Denver metropolitan area
MARTIN Marietta Materials Inc. have completed the acquisition of Albert Frei & Sons Inc. (AFS), a leading aggregates producer in Colorado. The transaction, which closed on 12 January 2024, will provide more than 60 years of high-quality hard rock reserves.
Ward Nye, chairman, president, and chief executive officer of Martin Marietta, said: ‘We are delighted to announce the acquisition of AFS and to welcome such a talented team to our company.
‘The acquisition, wholly consistent with our strategic plan, enhances our aggregates platform in the high-growth Denver metropolitan area and strengthens our ability to deliver significant value for shareholders and customers.
‘We expect this transaction to be immediately accretive to earnings, margins, and cash flow as we redeploy proceeds from prior divestitures.’