Eagle Materials Inc. (NYSE: EXP) has recently announced its agreement to acquire Bullskin Stone & Lime, LLC, a pure-play aggregates business based in western Pennsylvania, for a purchase price of $152.5 million. The transaction is anticipated to be finalized within the next 60 days, subject to customary closing conditions.
Commenting on the acquisition, Michael Haack, President and CEO of Eagle Materials, emphasized that the move is aligned with the company's long-term growth strategy and will extend its network of aggregates quarries and cement plants and terminals in the region. Haack expressed eagerness about the potential opportunities presented by this business and welcomed the Bullskin employees to the Eagle Materials organization.
Eagle Materials Inc. is a prominent U.S. manufacturer of heavy construction products and light building materials, with a focus on essential products like portland cement and gypsum wallboard. The company operates through a network of over 70 facilities across 21 states and is headquartered in Dallas, Texas.
The acquisition of Bullskin Stone & Lime represents a significant development for Eagle Materials, as it expands the company's presence in the western Pennsylvania market and complements its existing operations. This move reflects Eagle Materials' ongoing commitment to strategic expansion and diversification within the industry. The market has reacted to these announcements by moving the company's shares 0.6% to a price of $279.21. If you want to know more, read the company's complete 8-K report here.
