Quikrete, a prominent manufacturer in the construction materials sector, acquired Forterra.
The Acquisition of Forterra
Forterra, a leading producer of water and drainage infrastructure products, was purchased by Quikrete. This strategic acquisition expanded Quikrete's diverse portfolio within the construction industry.
The transaction was executed as an all-cash deal, with Quikrete acquiring all outstanding shares of Forterra. Each share was purchased for $24.00, leading to Forterra becoming a wholly-owned subsidiary of Quikrete upon the completion of the acquisition. This integration strengthens Quikrete's position in the market by adding Forterra's specialized product lines and capabilities.
Key Details of the Acquisition
| Detail | Description |
|---|---|
| Acquiring Entity | Quikrete |
| Acquired Company | Forterra |
| Transaction Type | All-cash |
| Share Price | $24.00 per share |
| Outcome | Forterra became a wholly-owned subsidiary |
This acquisition underscores the ongoing consolidation trend in the construction materials sector, as companies aim to enhance their market presence and product offerings through strategic mergers and acquisitions.
