Granite has completed the acquisition of Coast Mountain Resources (2020) Ltd., a construction-aggregate producer based in British Columbia, Canada, on Malahat First Nation land. Coast Mountain Resources operates the Bamberton Quarry on Vancouver Island, which is strategically located on the deep water of the Saanich Inlet. Granite has been a customer of the quarry due to its high-quality aggregate and strategic proximity to its home markets.
“We’re excited to work with the Malahat First Nation to accomplish a shared goal of managing a safe and environmentally responsible operation,” said Vice President of Construction Materials Brad Estes. “We look forward to working with the Malahat Nation to ensure that our business is an integral part of their community for decades to come.”
“Supporting and strengthening our vertically integrated home markets, which we have done through the acquisition of CMR and the previously announced acquisition of Brunswick Canyon in Nevada, is at the core of our strategic plan,” explained President and CEO Kyle Larkin. “We’re happy to have CMR in our portfolio and we will continue to be opportunistic in future investments to support the growth of our home markets.”
Last month, Granite announced the purchase of Brunswick Canyon Quarry and asphalt plant in Carson City, Nev.