Martin Marietta Materials agreed to acquire Lhoist North America in a $13.5 billion cash-and-stock deal, the largest in the company's history. The transaction includes $7 billion in cash and $6.5 billion in stock, with the Berghmans family, owners of Lhoist Group, receiving roughly 15% of Martin Marietta and the right to appoint one director and one board observer. Lhoist North America operates 20 quarries, 45 distribution terminals, and holds over 2 billion tons of limestone reserves, generating $1.8 billion in gross sales and $786 million in adjusted EBITDA for the twelve months ended December 31, 2025. Martin Marietta expects annual cost synergies of approximately $85 million and plans to reduce its combined net leverage ratio from about 3.7x at closing to below 2.5x within 24 months. The deal is expected to close in the latter half of 2026, pending regulatory approvals.
Martin Marietta Materials IncMartin Marietta acquires Lhoist North America in a $13.5B deal, expecting cost synergies and deleveraging.
Lhoist Group sells its North American business for $13.5B, receiving cash and a 15% stake in Martin Marietta.