SigmaRoc, the London-headquartered buy-and-build building materials group, has exercised its call option entered into on 22 November 2023 (the 'Polish Call Option') and entered a share purchase agreement to acquire the Polish lime operations of Irish construction product giant CRH for €100 million (around £85mn).
The purchase is conditional on the Polish Purchaser receiving Polish Competition Office Clearance (PCOC), for which the Polish Purchaser will make the necessary filings with the Polish Competition Office. Subject to the PCOC, completion of the Deal 3 Acquisition is expected by the end of September 2024.
As announced on 23 November 2023, alongside the conditional acquisition of CRH's lime businesses in Germany, Czech Republic, and Ireland (Deal 1 Targets), SigmaRoc entered into call options, which granted it the right to acquire the UK Target (Deal 2 Target) and CRH's lime operations in Poland (the Polish Target) at a future date.
Following the acquisition of the Deal 1 Target on 4 January 2024 and Deal 2 Target on 27 March 2024, SigmaRoc has now exercised the Polish Call Option and entered into the Polish SPA.
The new acquisition includes CRH's Polish lime and limestone flour production, associated distribution network, and Polish assets. Founded in 1910, CRH has two lime production sites in Kujawy and Sitkowka.
SigmaRoc reports that it is pleased with the progress made on the integration of the Deal 1 and Deal 2 Targets, which are the German, Czech, Irish, and UK entities. It will provide a further update alongside its interim results for the period ended 30 June 2024.
Defined terms used throughout this announcement have the meanings set out in SigmaRoc's admission document published on 23 November 2023 unless the context requires otherwise.
Information on SigmaRoc is available on its website, www.sigmaroc.com.
