Heidelberg Materials has announced a significant expansion of its U.S. operations with the acquisition of Giant Cement Holding Inc. and its subsidiaries for $600 million. This strategic move, set to be finalized in the first quarter of 2025, aims to bolster Heidelberg’s presence in the rapidly growing Southeastern U.S. and New England markets.
The acquisition is projected to generate approximately $60 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) in its first year, with expectations for further synergies as operations integrate. “This acquisition will further strengthen our cement footprint in these key regions,” stated Chris Ward, CEO of Heidelberg Materials North America.
Giant Cement Holding, previously owned by Mexican billionaire Carlos Slim’s Spanish cement and real estate unit Inmocemento, will provide Heidelberg with valuable assets, including an integrated cement plant in Harleyville, South Carolina, and a network of cement distribution terminals across Georgia and South Carolina. The deal also encompasses operations in New England, featuring a cement and slag distribution terminal in Newington, New Hampshire, and a deep-water import terminal in Boston.
Inmocemento is expected to realize a capital gain of $145 million from this sale, marking a significant financial move for the company following its recent spin-off from Slim’s larger conglomerate.
Heidelberg Materials continues to pursue growth through strategic acquisitions that enhance its market position while focusing on sustainability and innovation within the building materials sector. This latest acquisition aligns with the company’s commitment to expanding its footprint in core markets across North America.
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