Martin Marietta Announces Strategic Asset Exchange with Quikrete

Martin Marietta Materials has announced an asset exchange agreement with Quikrete, where Martin Marietta will transfer its cement and ready-mix concrete operations in Texas to Quikrete in exchange for Quikrete's aggregates operations in Virginia, Missouri, Kansas, and Western Canada, along with $450 million in cash. Additionally, Martin Marietta completed the acquisition of Premier Magnesia, LLC, enhancing its position in the magnesia-based products market. These strategic moves are expected to optimize Martin Marietta's portfolio, focusing on higher-margin aggregates and supporting long-term earnings growth.

Martin Marietta Materials, Inc. (NYSE: MLM) has announced a significant asset exchange agreement with Quikrete Holdings, Inc. (Quikrete) and the completion of the acquisition of Premier Magnesia, LLC (Premier). The transactions are part of the company's ongoing efforts to optimize its portfolio and enhance long-term earnings growth.

Under the asset exchange agreement, Martin Marietta will transfer its cement and ready-mixed concrete operations in North Texas to Quikrete in exchange for Quikrete's aggregates operations in Virginia, Missouri, Kansas, and Vancouver, British Columbia, along with $450 million in cash. The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and other customary closing conditions [1].

Additionally, Martin Marietta completed the acquisition of Premier Magnesia, LLC, a privately-owned producer of magnesia-based products with operations in Nevada, North Carolina, Indiana, and Pennsylvania. The Premier acquisition enhances Martin Marietta's position as the leading producer of natural and synthetic magnesia-based products in the United States [1].

These strategic moves are aimed at focusing Martin Marietta's portfolio on higher-margin aggregates and supporting long-term earnings growth. The company expects to report second-quarter revenues, net earnings attributable to Martin Marietta, and adjusted EBITDA of $1.81 billion, $328 million, and $630 million, respectively. The company is raising its full-year 2025 adjusted EBITDA guidance to $2.30 billion at the midpoint, reflecting contributions from the Premier acquisition [1].

The company will provide full second-quarter results and a full-year outlook during its second-quarter 2025 earnings conference call on August 7, 2025, at 10:00 a.m. Eastern Time [1].

References:
[1] https://ir.martinmarietta.com/news-releases/news-release-details/martin-marietta-and-quikrete-exchange-certain-cement-and