SigmaRoc Plc has bought the lime operations in Europe of CRH Plc, a building materials group, for $1.1 billion.
The division has 16 operating locations across Ireland, the U.K., Germany, Czech Republic and Poland and generated earnings of about $137 million on sales of $610 million in 2022. The transaction will be structured in three phases with the German, Czech and Irish lime operations sold in early 2024, reported Bloomberg News. The sale of the rest of the operations in the U.K. and Poland will be completed in 2024. The proposed sale comes a day after CRH agreed to buy a portfolio of cement and ready mixed concrete assets in Texas from Martin Marietta Materials Inc.