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News Quikrete Holdings acquires stake in Summit Materials from Cementos Argos

Quikrete Holdings acquires stake in Summit Materials from Cementos Argos

Written by Global Cement staff 11 February 2025
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US: Colombia-based Cementos Argos, Summit Materials’ largest shareholder, has sold its 31% stake in the company to Quikrete Holdings. The price of US$52.50 per share represents a rise by 38% compared to when Cementos Argos acquired the shares in 2023 through the combination of its US assets with Summit Materials. The sale, valued at US$11.5bn for 100% of the company’s shares, will reportedly enable Cementos Argos to pursue new cement, ready-mix concrete and aggregates opportunities in the US market. Supply agreements, including exports from Cartagena to the US, will continue. Through the deal, Quikrete will acquire 100% of Summit Materials’ shares, and the company will become a privately held subsidiary of Quikrete.

Last modified on 12 February 2025
Published in Global Cement News
Tagged under
  • US
  • Quikrete
  • Summit Materials
  • Cementos Argos
  • Acquisition
  • Stake
  • Shares
  • shareholders
  • Americas
  • GCW696
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