CRH sells lime business to SigmaRoc

CRH plc has agreed to divest its lime operations in Europe to SigmaRoc plc for a total consideration of approximately US$1.1bn. The lime business comprises 16 operating locations with leading market positions across Ireland, the UK, Germany, Czech Republic and Poland. The combined business generated sales of around US$610m and EBITDA of roughly US$137m in 2022.

The transaction, which is subject to customary conditions and regulatory approvals, is structured in three phases, the first of which is expected to complete in early 2024 comprising the group’s lime operations in Germany, Czech Republic and Ireland. The remaining phases, consisting of operations in the UK and Poland, are expected to complete in 2024. 

Albert Manifold, CEO of CRH, said, “The decision to divest at an attractive valuation follows a comprehensive review of the business and demonstrates CRH’s active approach to portfolio management. The proceeds from the divestment will provide us with significant additional capital allocation opportunities to deliver further growth and value creation for our shareholders."