Vulcan Materials Company acquired Wake Stone Corporation for not individually disclosed (Wake Stone and Superior Ready Mix were collectively material, with combined purchase consideration of approximately $2,090.7 million), a transaction announced in September 2024, structured as cash (2024 acquisitions totaled $2,297.1 million, of which $2,266.2 million was cash).
Wake Stone Corporation operates in Aggregates. Vulcan agreed to acquire Wake Stone Corporation, a leading pure-play aggregates supplier in the Carolinas, established in 1970. The acquisition was expected to provide more than 60 years of quality hard rock reserves serving attractive high-growth geographies, most notably Raleigh, North Carolina. The transaction closed in the fourth quarter of 2024 and, together with Superior Ready Mix, was deemed collectively material in Vulcan's FY2024 10-K.
This acquisition is consistent with our aggregates-led growth strategy of continuing to expand our reach to better serve more high-growth regions in the United States. Our Vulcan Way of Selling and Vulcan Way of Operating disciplines remain fundamental to consistently compounding profitability across our franchise and successfully integrating new operations.
We look forward to welcoming Wake Stone to the Vulcan family. Established in 1970, Wake Stone has successfully built a leading aggregates franchise that shares many of the same values as Vulcan. Our people are at the heart of our business, and we are excited to work with the talented Wake Stone team.Tom Hill, Chairman and Chief Executive Officer, Vulcan Materials Company
Advisory firms were not disclosed for this transaction.