The purchased business comprises 16 operating locations with leading market positions across Ireland, the UK, Germany, the Czech Republic and Poland. The first-phase transaction is valued at €745mn (approximately £645mn). The combined portfolio generated sales of around €558mn ($610mn) and EBITDA of €125.3mn ($137mn) in 2022.
The European lime business transaction is structured in three phases. The remaining two phases, consisting of operations in the UK and Poland, are expected to be completed later this year.
Speaking after the deal was first announced on 22 November 2023, Albert Manifold, Chief Executive of CRH, said: "The decision to divest at an attractive valuation follows a comprehensive review of the business and demonstrates CRH's active approach to portfolio management. The proceeds from the divestment will provide us with significant additional capital allocation opportunities to deliver further growth and value creation for our shareholders."
