Martin Marietta acquires Albert Frei & Sons

Martin Marietta acquired Albert Frei & Sons (AFS), whose quarries have supplied Colorado markets with construction materials for about 60 years.

AFS is 54th on the U.S. Geological Survey’s latest list of the nation’s largest crushed stone producers.

According to Martin Marietta, the deal provides it with 60 years of hard rock reserves to serve customers.

“We are delighted to announce the acquisition of AFS and welcome such a talented team to our company,” says Ward Nye, chairman, president and CEO of Martin Marietta. “The acquisition, wholly consistent with our strategic plan, enhances our aggregates platform in the high-growth Denver metropolitan area and strengthens our ability to deliver significant value for shareholders and customers.

“We expect this transaction to be immediately accretive to earnings, margins and cash flow as we redeploy proceeds from prior divestitures,” Nye adds.

P&Q visited Albert Frei & Sons’ Walstrum Quarry in 2017 and published a feature article based on the experience. Look back on the article here.

Featured photo: P&Q Staff

Related: CRH, Martin Marietta make a deal in Texas