Vulcan divesting Aggregates USA assets

Vulcan Materials Co. reached an agreement with the Department of Justice that will allow the company to complete its proposed acquisition of Aggregates USA LLC.

Under the terms of the agreement, Vulcan will divest Aggregates USA’s Tennessee assets and an aggregate quarry in Abingdon, Virginia. Vulcan will retain all of the Aggregates USA assets in Georgia, Florida and South Carolina.

The company also entered into an agreement with Blue Water Industries LLC, under which Blue Water will acquire the required divestitures in Tennessee and Abingdon, Virginia, for $290 million. Vulcan’s transaction with Blue Water, and its acquisition of Aggregates USA, are expected to close on Dec. 29.

“We appreciate the Department of Justice’s thorough review and approval, and are pleased with this outcome,” says Tom Hill, Vulcan chairman and CEO. “We look forward to closing our acquisition of Aggregates USA LLC, which will give Vulcan access to high-quality, strategic assets in key southeastern U.S. markets.”