Martin Marietta says the purchase of Albert Frei, which closed on January 12, 2024, means that it acquires a company with more than 60 years of high-quality, hard rock reserves to better serve new and existing customers.
Ward Nye, chairman, president and CEO of Martin Marietta stated: “We are delighted to announce the acquisition of AFS and welcome such a talented team to our company. The acquisition, wholly consistent with our strategic plan, enhances our aggregates platform in the high-growth, Denver metropolitan area and strengthens our ability to deliver significant value for shareholders and customers. We expect this transaction to be immediately accretive to earnings, margins and cash flow as we redeploy proceeds from prior divestitures.”
Martin Marietta supplies building materials, including aggregates, cement, ready mixed concrete and asphalt. It has a network of operations spanning 28 states, Canada and The Bahamas.
