Martin Marietta Materials Inc. announced that it completed the acquisition of Albert Frei & Sons, Inc. (AFS), a leading aggregates producer in Colorado that has supplied the Metro Denver area with materials since 1962.
The transaction, which closed on Jan. 12, provides more than 60 years of high-quality, hard rock reserves to better serve new and existing customers.
Ward Nye, chairman, president and CEO of Martin Marietta stated, “We are delighted to announce the acquisition of AFS and welcome such a talented team to our company. 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.”