Graymont has finalised the previously-announced acquisition of two New Zealand-based producers, McDonald’s Lime and Taylor’s Lime from Holcim.
“Completion of this acquisition represents a milestone in terms of extending Graymont’s reach beyond North America to serve new customers in select global markets,” stated Graymont President and Chief Executive Officer, Stéphane Godin. “We have great confidence in the long-term growth prospects of the New Zealand economy and the region.”
Glenda Harvey, Country Manager of Holcim New Zealand, former owner of the lime and limestone businesses, said: “McDonald’s and Taylor’s Lime have been a key part of our operations for decades. We are pleased to have been able to conclude the sale to such a highly-regarded industry leader like Graymont.”
John Reeves, previously General Manager of the New Zealand lime and limestone operations, has been appointed Graymont’s Vice President for New Zealand, ensuring a seamless transition.
The deal was first announced in December 2014. Holcim (New Zealand) had been trying to sell its lime business, which it no longer considers a core business, as it plans for imported cement to replace local production at Westport.