The purchased business comprises 16 operating locations with leading market positions across Ireland, the UK, Germany, the Czech Republic and Poland. The combined portfolio generated sales of around $610 million and EBITDA of $137 million in 2022.
The transaction is structured in three phases, the first of which is expected to be completed in early 2024. It consists of CRH Group's lime operations in Germany, the Czech Republic and Ireland. The remaining phases, consisting of operations in the UK and Poland, are expected to be completed in 2024.
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."
