Martin Marietta Completes Divestitures Related to Bluegrass Deal

   By Colin Kellaher

Martin Marietta Materials Inc. (MLM) on Monday said it completed the divestitures required under agreement with the Justice Department related to its acquisition of Bluegrass Materials Co.

The Raleigh, N.C., aggregates company said it sold its Forsyth aggregates quarry north of Atlanta and Bluegrass' Beaver Creek aggregates quarry in western Maryland for an undisclosed amount of cash.

The DOJ had required the divestitures due to competition concerns with the $1.625 billion Bluegrass deal, which closed on April 27.

Martin Marietta also said it acquired CRH PLC's (CRH) Mallard Sand & Gravel business in Omaha, Neb., which CRH was required to sell under an agreement with the Federal Trade Commission as part of CRH's $3.5 billion acquisition of Ash Grove Cement Co.

The Mallard business, which consists of sand and gravel operations and a permitted greenfield site, will add about 30 million tons of aggregates reserves, Martin Marietta said.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

June 25, 2018 06:43 ET (10:43 GMT)

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