MDU Resources Group, Inc. announced it has acquired the operations of Molalla Redi-Mix and Rock Products Inc., which produces ready-mix concrete in Molalla, Ore., south of Portland.
Molalla Redi-Mix will become part of Knife River Corp., the construction materials subsidiary of MDU Resources. The acquisition expands Knife River’s reach into the growing market between Portland and Salem, and will be operated out of the company’s Portland Metro office.
Financial details of the acquisition were not disclosed. MDU Resources anticipates the acquisition will be accretive to 2018 earnings per share.
“Molalla Redi-Mix is a good addition to our Oregon operations, and gives us more flexibility to serve customers southeast of Portland,” said David C. Barney, Knife River president and CEO. “We are excited to bring in new team members and to continue to grow our business. This is our third acquisition this year, and we look forward to completing more deals throughout our service territory.”